Problem 1: The cost of a desk lamp to a store is $125. The store's overhead expenses are 25% on cost and the operating profit is 20% on selling price.
a. Calculate the regular selling price of the desk lamp.
b. Calculate the rate of markup on selling price.
Problem 2: A furniture retailer paid $649 for a desk. The retailer's operating profit is 22% on selling price and the overhead expenses are 13% on cost.
a. Calculate the regular selling price of the desk.
b. Calculate the rate of markup on selling price.
Problem 3: A store sells humidifiers for $67.50 each. The store's operating expenses are 40% on cost and the operating profit is 20% on selling price.
a. Calculate the cost of a humidifier.
b. Calculate the rate of markup on cost.
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