Fixture Clearance
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Can you answer this correctly?
Hi-Lites purchased a ceiling fixture for $460 less 55%. The fixture was then marked up by 130% of cost. Overhead expenses are 52% of cost. In a clearance sale Hi-Lites offered the fixture at 30% off. What is the rate of markup on cost at the sale price?
(Give your answer to the nearest whole number.)
1. Find 55% of $460.
2. Add 130% of what you get from #1 to #1.
3. Take the result of #2 and find 30% of that.
4. Figure the rate of mark-up at the sale price.
5. Round off to the nearest whole dollar.
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