Markups & Markdowns
Jabba Binx
Phase 5 Individual Project
MATH105-1302A-03
Professor: Timothy Manzke
May 13, 2013
Colorado Technical University
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Part I: Markups & Markdowns
A manufacturer produces ceiling fans at a cost of $38.25 per fan. During the summer months, it sells the fan in one of its retail outlets at a selling price of $55.00. However, during the fall and winter seasons, the manufacturer discounts its fans by 20% off the $55.00 selling price. 1. If you were to order 15 fans in the summer and 18 fans in the winter, what would be the total price paid? 2. Based on your findings above, how much would you save if you knew ahead of time that you needed a total of 33 fans for the year by buying them all in the winter? 1.) For this question the first step is to take the selling price of the fans in the summer time which is $55 dollars and multiply it by the amount of fans needed for the summer which is 15 fans;
55 x 15 = $825.00 dollars is the total price for the fans in the summer. We next need to find out how much the total price will be for the 18 fans in the winter time so we multiply the selling price which is $55 dollars by the amount needed in the winter which is 18.
55 x 18 = $990.00 dollars is the total price for the fans in the winter before the discount
Next we need to apply the 20% discount to the selling price. So as we start this process the first step is to convert the 20% into decimal format by dividing by 100; 20 / 100 = 0.20 Then we multiply the total price of the fans in the winter which is $990 by the 0.20 to find the discount amount. 990 x 0.20 = $198 dollars is the discount amount To find the final selling price of the fans in the winter with the 20% discount applied we subtract the discount amount of $198 from the total selling price of fans in the winter which is $990.
990 – 198 = $792.00 is the amount of the 18 fans ordered in the winter with the discount applied. The last step in this process to find the
Phase 5 Individual Project
MATH105-1302A-03
Professor: Timothy Manzke
May 13, 2013
Colorado Technical University
\
Part I: Markups & Markdowns
A manufacturer produces ceiling fans at a cost of $38.25 per fan. During the summer months, it sells the fan in one of its retail outlets at a selling price of $55.00. However, during the fall and winter seasons, the manufacturer discounts its fans by 20% off the $55.00 selling price. 1. If you were to order 15 fans in the summer and 18 fans in the winter, what would be the total price paid? 2. Based on your findings above, how much would you save if you knew ahead of time that you needed a total of 33 fans for the year by buying them all in the winter? 1.) For this question the first step is to take the selling price of the fans in the summer time which is $55 dollars and multiply it by the amount of fans needed for the summer which is 15 fans;
55 x 15 = $825.00 dollars is the total price for the fans in the summer. We next need to find out how much the total price will be for the 18 fans in the winter time so we multiply the selling price which is $55 dollars by the amount needed in the winter which is 18.
55 x 18 = $990.00 dollars is the total price for the fans in the winter before the discount
Next we need to apply the 20% discount to the selling price. So as we start this process the first step is to convert the 20% into decimal format by dividing by 100; 20 / 100 = 0.20 Then we multiply the total price of the fans in the winter which is $990 by the 0.20 to find the discount amount. 990 x 0.20 = $198 dollars is the discount amount To find the final selling price of the fans in the winter with the 20% discount applied we subtract the discount amount of $198 from the total selling price of fans in the winter which is $990.
990 – 198 = $792.00 is the amount of the 18 fans ordered in the winter with the discount applied. The last step in this process to find the
References: Webley, K. (n.d.). Retrieved from http://business.time.com/2012/03/20/students-your-loan-interest-rate-is-about-to-double/