16. because of demand, concert tickets that normally sell for $89.99 each are marked up 20%. if mark wishes…

16. because of demand, concert tickets that normally sell for $89.99 each are marked up 20%. if mark wishes to purchase 8 tickets, how much will he pay in total?

16. because of demand, concert tickets that normally sell for $89.99 each are marked up 20%. if mark wishes to purchase 8 tickets, how much will he pay in total?

Answer

Explanation:

Step1: Calculate the marked - up price of one ticket

The marked - up price of one ticket is the original price plus the markup amount. The markup amount is 20% of the original price. The original price of one ticket is $89.99. The markup amount for one ticket is $89.99×0.2. The marked - up price of one ticket $p = 89.99+89.99×0.2=89.99×(1 + 0.2)=89.99×1.2$. $p=89.99×1.2 = 107.988\approx107.99$

Step2: Calculate the total price for 8 tickets

The total price $T$ for 8 tickets is the marked - up price of one ticket times 8. So $T = 107.99×8$. $T=863.92$

Answer:

$863.92$