1. A calculator has been marked up 15% and is being sold for $78.50.

How
much did the store pay the manufacturer of the calculator?

Solution

First, lets define p to be the cost that the store paid for the calculator. The stores
markup on the calculator is 15%. This means that 0.15p has been added on to
the original price (p) to get the amount the calculator is being sold for. In other
words, we have the following equation

that we need to solve for p. Doing this gives,

The store paid $68.26 for the calculator. Note that since we are dealing with
money we rounded the answer down to two decimal places.

2. A shirt is on sale for $15.00 and has been marked down 35%. How much
was the shirt being sold for before the sale?

Solution

Lets start with defining p to be the price of the shirt before the sale. It has been
marked down by 35%. This means that 0.35p has been subtracted off from the
original price. Therefore, the equation (and solution) is,
So, with rounding it looks like the shirt was originally sold for $23.08.

3. 1000 tickets were sold. Adult tickets cost $8.50, children's cost $4.50, and
a total of $7300 was collected. How many tickets of each kind were sold?

Solution. Let x be the number of adult tickets. Let y be the number of

children's tickets.

Again, we have let x and y answer the question. And again we must get two
equations out of the given information. Here they are:

1) Total number of tickets: x + y = 1000

2) Total money collected: 8.5x + 4.5y = 7300

In equation 2), we will make the coefficients into whole numbers by multiplying
both sides of the equation by 10:

1) x + y = 1000

2') 85x + 45y = 73,000

We call the second equation 2' ("2 prime") to show that we obtained it from
equation 2).

The solutions are: x = 700, y = 300.

4. Mr. Alfonso invested a sum of money at 4% simple interest and another sum
 which is 100,000 more than the first sum at 5%. The annual income from the
two investments is 17,000 pesos. How much was Mr. Alfonsos investment at
each rate?

Solution :

Let X = Amount invested at 4%

X + 100,000 = Amount invested at 5%

Interest at 4% = .04X

Interest at 5% = .05 (X + 100,000)

Interest at 4% + Interest at 5% = 17,000

Working equation :

.04X + .05(X + 100,000) = 17,000

Multiplying this equation by 100

4X + 5 ( X + 100,000) = 1,700,000

4X + 5X + 500,000 = 1,700,000

9X = 1,700,000 500,000

(9X = 1,200,000 ) 1/9

X = 133,333.33 = Amount invested at 4%

X + 100,000 = 133,333.33 + 100,000 = 233,333.33 ==Amount invested at 5%

 5. A man invested 35,000 pesos partly at 15% and the rest at 18%. The
total income from these investments is 5,650 pesos. Find the sum invested
at each rate.

Solution :

Let X = Amount invested at 15%

35,000 X = Amount invested at 18%

Since Interest = Prt therefore

.15X = Interest earned at amount invested at 15%

.18(35,000 X )= Interest earned at amount invested at 18%

Interest earned at 15% + Interest earned at 18% = 5,650

Working Equation :

.15X + .18(35,000 X) = 5,650

Multiplying this equation by 100

15X + 18(35,000 X ) = 565,000

15X + 630,000 - 18X = 565,000

-3X = 565,000 630,000

(-3X = -65,000 ) -1/3

X = 21,667.67 == Amount invested at 15%

35,000 21,666.67 = 13,3333.33 =Amount Invested at 18%