Question

Jerry bought a table-tennis table with a sticker price of $1700. If he paid $22 a week for 2 years, what was the approximately markup rate on the table? A. 34.6%, B. 32.7% C. 67.3%, D. 74.3%

Answer 1

Hi there

He paid 22 a week for 2 years
1 year= 52 weeks
2 years= 104 weeks

Total paid
22×104=2,288

Markup rate is
((2,288−1,700)÷1,700)×100
=34.6%

Hope it helps

Answer 2

Answer: Option 'A' is correct.

Step-by-step explanation:

Since we have given that

Price of sticker = $1700

Amount he paid a week = $22

He paid for 2 years.

Number of week in 1 year = 52 weeks

Number of weeks in 2 years = 52 × 2 = 104 weeks

So, amount he paid for 104 weeks is given by

$22\times 104\\\\=\ 2288$

Amount of mark up would be

$\ 2288-\ 1700\\\\=\ 588$

Rate of markup would be

$\dfrac{588}{1700}\times 100\\\\=\dfrac{588}{17}\\\\=34.58\%\\\\=34.6\%$

Hence, Option 'A' is correct.