Golfers Delight was to hold a summer spectacular event during which a celebrity

Question

Golfers Delight was to hold a summer spectacular event during which a celebrity golfer would be autographing golf bags for anyone
purchasing the Pro Spirit line of clubs. To prepare for the event, the buyer purchased 15 additional sets of clubs to be priced at $400.
There were already 10 sets of the clubs in stock but they were repriced from $350 to $400 for consistency. The event was very
successful and all of the clubs sold. What was the additional markup percent earned on the clubs already in inventory? What was the
total net sales on all clubs during the event?

Explanation / Answer

Description Quantity Rate Silk scarves 144 38 Total Sales Price as per normal Price 5472 Scarves sold at mark down price 55 25 Scarves sold at mark down price 65 30 Total loss due to markdown=55*(38-25)+65*(38-30) 1235 Net Mark down Percent=(1235/5472)*100 22.57

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