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Bari Jay, a gown manufacturer, received an order for 410 prom dresses from China. Her cost is $33 a gown. If her markup based on selling price is 71%, what is the selling price of each gown? (Round your answer to the nearest cent.)

Question

Bari Jay, a gown manufacturer, received an order for 410 prom dresses from China. Her cost is $33 a gown. If her markup based on selling price is 71%, what is the selling price of each gown? (Round your answer to the nearest cent.)

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Solution

Sure, here's how to solve this problem:

  1. First, we need to understand that the markup is based on the selling price. This means that the cost of the gown represents 100% - 71% = 29% of the selling price.

  2. To find the selling price, we divide the cost of the gown by the percentage that the cost represents of the selling price. In this case, we divide $33 by 29% (or 0.29 in decimal form).

  3. So, the selling price of each gown is 33/0.29=33 / 0.29 = 113.79.

Therefore, the selling price of each gown is approximately $113.79 when rounded to the nearest cent.

This problem has been solved

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