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What is jack total profit in dollar

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Reference no: EM132915929

1. Please calculate and answer the following,

a) A trader bought a piece of furniture for $1,000 and sells it for $1,200. (a) What is his markup %? Later, he reduced the selling price by 5%. (b) What is the revised markup % he makes?

b) Jack makes hand-crafted knives, at a cost of $50 per knife, to sell at local craft shows. He has 30 knives on hand for the next show, and expects to sell them all for a total of $2,100. What is Jack's margin per knife in dollar and percentage terms? What is Jack total profit in dollar?

Reference no: EM132915929

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