This business/management problem is solved step by step below, with detailed explanations to help you understand the method and arrive at the correct answer.
ScanSolve AI Answer
Here are the calculations to complete the table: 1.2.1 Calculate Cost Price Given: Mark-up on Cost = 100\%, Selling Price = R 16\,800 The selling price is the cost price plus the mark-up. If the mark-up is 100\% on cost, then the mark-up amount is equal to the cost price. Selling Price = Cost Price + (Cost Price × Mark-up percentage) R 16\,800 = Cost Price + (Cost Price × 100\%) R 16\,800 = Cost Price + Cost Price R 16\,800 = 2 × Cost Price Cost Price = R 16\,8002 Cost Price = R 8\,400 Rounding to the nearest 10: R 8\,400 The cost price is R 8 400. 1.2.2 Calculate Selling Price Given: Cost Price = R 140, Mark-up on Cost = 40\% Selling Price = Cost Price × (1 + Mark-up percentage) Selling Price = R 140 × (1 + 0.40) Selling Price = R 140 × 1.40 Selling Price = R 196 Rounding to the nearest 10: R 200 The selling price is R 200. 1.2.3 Calculate Selling Price Given: Cost Price = R 1\,000, Mark-up on Cost = 70\% Selling Price = Cost Price × (1 + Mark-up percentage) Selling Price = R 1\,000 × (1 + 0.70) Selling Price = R 1\,000 × 1.70 Selling Price = R 1\,700 Rounding to the nearest 10: R 1\,700 The selling price is R 1 700. 1.2.4 Calculate Cost Price Given: Mark-up on Cost = 15\%, Selling Price = R 5\,720 Cost Price = Selling Price1 + Mark-up percentage Cost Price = R 5\,7201 + 0.15 Cost Price = R 5\,7201.15 Cost Price ≈ R 4\,973.91 Rounding to the nearest 10: R 4\,970 The cost price is R 4 970. 1.2.5 Calculate Mark-up on Cost Given: Cost Price = R 5\,800, Selling Price = R 9\,600 Mark-up percentage = Selling Price - Cost PriceCost Price × 100\% Mark-up percentage = R 9\,600 - R 5\,800R 5\,800 × 100\% Mark-up percentage = R 3\,800R 5\,800 × 100\% Mark-up percentage ≈ 0.65517 × 100\% Mark-up percentage ≈ 65.517\% Rounding to the nearest 10 (percentage point): 70\% The mark-up on cost is 70%. 3 done, 2 left today. You're making progress.