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Calculate percentage to the nearest 0.1%.

The markup on desserts in a restaurant is 70% of the menu price. The restaurant is adding key lime pie to its dessert list.
The cost to the restaurant works out to $1.25 per slice.
Determine:

a. The menu price of a slice of pie. (Round your answer to the nearest cent.)

Price
$

b. The rate of markup on cost. (Round your answer to one decimal place.)

Rate
%

Respuesta :

sqdancefan

9514 1404 393

Answer:

  a. $4.17

  b. 233.3%

Step-by-step explanation:

a. The proportion the markup (m) is to the total (t) is ...

  m : t = 7 : 10

The total is the cost (c) plus the markup, so we have ...

  m : t = 7 : 10 = m : (m +c) = 7 : 7 +3

Then the ratio of total price to cost is ...

  t : c = 10 : 3

The menu price of the pie slice will be ...

  $1.25 × 7/3 ≈ $4.17

__

b. The ratio of markup to cost is ...

  m : c = 7 : 3 ≈ 2.333 = 233.3%

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