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Calculate the cost price and selling price for the given mark-up and selling price/cost price.

Business/Management

ScanSolve AI Answer

Here are the calculations to complete the table:

1.2.1 Calculate Cost Price
Given: Mark-up on Cost = 100%100\%, Selling Price = R 16 80016\,800
The selling price is the cost price plus the mark-up. If the mark-up is 100%100\% on cost, then the mark-up amount is equal to the cost price.

Selling Price=Cost Price+(Cost Price×Mark-up percentage)\text{Selling Price} = \text{Cost Price} + (\text{Cost Price} \times \text{Mark-up percentage}) R 16 800=Cost Price+(Cost Price×100%)\text{R } 16\,800 = \text{Cost Price} + (\text{Cost Price} \times 100\%) R 16 800=Cost Price+Cost Price\text{R } 16\,800 = \text{Cost Price} + \text{Cost Price} R 16 800=2×Cost Price\text{R } 16\,800 = 2 \times \text{Cost Price} Cost Price=R 16 8002\text{Cost Price} = \frac{\text{R } 16\,800}{2} Cost Price=R 8 400\text{Cost Price} = \text{R } 8\,400

Rounding to the nearest 10: R 8 4008\,400
The cost price is R 8 400.

1.2.2 Calculate Selling Price
Given: Cost Price = R 140, Mark-up on Cost = 40%40\%

Selling Price=Cost Price×(1+Mark-up percentage)\text{Selling Price} = \text{Cost Price} \times (1 + \text{Mark-up percentage}) Selling Price=R 140×(1+0.40)\text{Selling Price} = \text{R } 140 \times (1 + 0.40) Selling Price=R 140×1.40\text{Selling Price} = \text{R } 140 \times 1.40 Selling Price=R 196\text{Selling Price} = \text{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 0001\,000, Mark-up on Cost = 70%70\%

Selling Price=Cost Price×(1+Mark-up percentage)\text{Selling Price} = \text{Cost Price} \times (1 + \text{Mark-up percentage}) Selling Price=R 1 000×(1+0.70)\text{Selling Price} = \text{R } 1\,000 \times (1 + 0.70) Selling Price=R 1 000×1.70\text{Selling Price} = \text{R } 1\,000 \times 1.70 Selling Price=R 1 700\text{Selling Price} = \text{R } 1\,700

Rounding to the nearest 10: R 1 7001\,700
The selling price is R 1 700.

1.2.4 Calculate Cost Price
Given: Mark-up on Cost = 15%15\%, Selling Price = R 5 7205\,720

Cost Price=Selling Price1+Mark-up percentage\text{Cost Price} = \frac{\text{Selling Price}}{1 + \text{Mark-up percentage}} Cost Price=R 5 7201+0.15\text{Cost Price} = \frac{\text{R } 5\,720}{1 + 0.15} Cost Price=R 5 7201.15\text{Cost Price} = \frac{\text{R } 5\,720}{1.15} Cost Price≈R 4 973.91\text{Cost Price} \approx \text{R } 4\,973.91

Rounding to the nearest 10: R 4 9704\,970
The cost price is R 4 970.

1.2.5 Calculate Mark-up on Cost
Given: Cost Price = R 5 8005\,800, Selling Price = R 9 6009\,600

Mark-up percentage=Selling Price−Cost PriceCost Price×100%\text{Mark-up percentage} = \frac{\text{Selling Price} - \text{Cost Price}}{\text{Cost Price}} \times 100\% Mark-up percentage=R 9 600−R 5 800R 5 800×100%\text{Mark-up percentage} = \frac{\text{R } 9\,600 - \text{R } 5\,800}{\text{R } 5\,800} \times 100\% Mark-up percentage=R 3 800R 5 800×100%\text{Mark-up percentage} = \frac{\text{R } 3\,800}{\text{R } 5\,800} \times 100\% Mark-up percentage≈0.65517×100%\text{Mark-up percentage} \approx 0.65517 \times 100\% Mark-up percentage≈65.517%\text{Mark-up percentage} \approx 65.517\%

Rounding to the nearest 10 (percentage point): 70%70\%
The mark-up on cost is 70%.

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