Exercise 4 Page 154

We want to find the selling price of the karaoke machine. Let's start by calculating the dollar amount of the markup. We can do this by using the percent equation. part = percent * whole We are given that the karaoke machine costs $ 62.25 plus 60.5 % markup. Let m represent the dollar amount of the markup. m = 60.5 % * $ 62.25Before solving the equation we got, we need to write the percent as a decimal. We can do this by ignoring the percent symbol and moving the decimal point two places to the left.

We got that 60.5 % is equal to 0.605. m = 60.5 % * $ 62.25 [0.3em] ⇓ [0.3em] m = 0.605 * $ 62.25 Finally, we will solve the equation for m. For simplicity, we will omit the dollar symbol.

We found that m≈ 37.66 is a solution to the equation. This means that the dollar amount of the markup, rounded to the nearest cent, is about $ 37.66. Now we can calculate the selling price of the karaoke machine, which is the regular price of the machine plus the markup. Selling price ≈ $ 62.25 + $ 37.66 = $ 99.91 The selling price of the karaoke machine is about $ 99.91.