To calculate the markup and selling price of the typewriter, we can follow these steps:
-
Calculate the markup (M): \[ \text{Markup (M)} = \text{Cost} \times \text{Markup Percentage} \] Here, the cost of the typewriter is $75.00 and the markup percentage is 40%, or 0.40 in decimal form.
\[ M = 75.00 \times 0.40 = 30.00 \]
-
Calculate the selling price (S): The selling price is calculated by adding the markup to the cost. \[ \text{Selling Price (S)} = \text{Cost} + \text{Markup} \] \[ S = 75.00 + 30.00 = 105.00 \]
So, we have:
- M (Markup) = $30.00
- S (Selling Price) = $105.00