Number, 987654321

Question

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Worked Solution

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Variant 0

DifficultyLevel

709

Question

A farmer sells a box of oranges to a supermarket with a 15% markup.

The supermarket then adds a further 20% on the already increased price.

What is the overall percentage markup on the box of oranges?

Worked Solution

Strategy 1

Assume the box of oranges costs $1.00 (say)

Cost after 15% markup = $1.15

Cost after further 20% increase
= 1.15 + (20% × 1.15)
= 1.15 + 0.23
= $1.38

∴\therefore Overall Markup = (1.38 − 1.00) × 100
= 38%

Strategy 2 (advanced)
Overall markup = (1 × 1.15 × 1.20) − 1
= 1.38 − 1.00
= 0.38
= 38%

Question Type

Multiple Choice (One Answer)

Variables

Variable nameVariable value
question
A farmer sells a box of oranges to a supermarket with a 15% markup. The supermarket then adds a further 20% on the already increased price. What is the overall percentage markup on the box of oranges?
workedSolution
Strategy 1 Assume the box of oranges costs $1.00 (say) Cost after 15% markup = $1.15 sm_nogap Cost after further 20% increase
>>|| |-| |= 1.15 + (20% × 1.15)| |= 1.15 + 0.23| |= $1.38|

| | | | --------------------- | -------------- | | $\therefore$ Overall Markup | \= (1.38 − 1.00) × 100 | | | \= {{{correctAnswer}}} |

sm_nogap Strategy 2 (advanced)
| | | | --------------------- | -------------- | | Overall markup | \= (1 × 1.15 × 1.20) − 1 | | | \= 1.38 − 1.00 | || \= 0.38| || \= {{{correctAnswer}}}|
correctAnswer
38%

Answers

Is Correct?Answer
x

5%

x

35%

✓

38%

x

62%

x

65%

Variant 1

DifficultyLevel

710

Question

An unrestored Kombi van sells at auction with a 30% markup.

The Kombi is then restored and sold for 60% above the already increased price.

What is the overall percentage markup on the Kombi van?

Worked Solution

Strategy 1

Assume the Kombi van costs $1.00 (say)

Cost after 30% markup = $1.30

Cost after further 60% increase
= 1.30 + (60% × 1.30)
= 1.30 + 0.78
= $2.08

∴\therefore Overall Markup = (2.08 − 1.00) × 100
= 108%

Strategy 2 (advanced)
Overall markup = (1 × 1.30 × 1.60) − 1
= 2.08 − 1.00
= 1.08
= 108%

Question Type

Multiple Choice (One Answer)

Variables

Variable nameVariable value
question
An unrestored Kombi van sells at auction with a 30% markup. The Kombi is then restored and sold for 60% above the already increased price. What is the overall percentage markup on the Kombi van?
workedSolution
Strategy 1 Assume the Kombi van costs $1.00 (say) Cost after 30% markup = $1.30 sm_nogap Cost after further 60% increase
>>|| |-| |= 1.30 + (60% × 1.30)| |= 1.30 + 0.78| |= $2.08|

| | | | --------------------- | -------------- | | $\therefore$ Overall Markup | \= (2.08 − 1.00) × 100 | | | \= {{{correctAnswer}}} |

sm_nogap Strategy 2 (advanced)
| | | | --------------------- | -------------- | | Overall markup | \= (1 × 1.30 × 1.60) − 1 | | | \= 2.08 − 1.00 | || \= 1.08| || \= {{{correctAnswer}}}|
correctAnswer
108%

Answers

Is Correct?Answer
x

8%

x

90%

x

10%

x

92%

✓

108%

Variant 2

DifficultyLevel

708

Question

A famous painting increased in value in ten years by 25%.

The painting is estimated to increase a further 40% in the next 10 years.

What is the overall percentage increase in value of the painting after 20 years?

Worked Solution

Strategy 1

Assume the painting is valued at $1.00 (say)

Cost after 25% increase = $1.25

Value after further 40% increase
= 1.25 + (40% × 1.25)
= 1.25 + 0.50
= $1.75

∴\therefore Overall increase = (1.75 − 1.00) × 100
= 75%

Strategy 2 (advanced)
Overall increase = (1 × 1.25 × 1.40) − 1
= 1.75 − 1.00
= 0.75
= 75%

Question Type

Multiple Choice (One Answer)

Variables

Variable nameVariable value
question
A famous painting increased in value in ten years by 25%. The painting is estimated to increase a further 40% in the next 10 years. What is the overall percentage increase in value of the painting after 20 years?
workedSolution
Strategy 1 Assume the painting is valued at $1.00 (say) Cost after 25% increase = $1.25 sm_nogap Value after further 40% increase
>>|| |-| |= 1.25 + (40% × 1.25)| |= 1.25 + 0.50| |= $1.75|

| | | | --------------------- | -------------- | | $\therefore$ Overall increase | \= (1.75 − 1.00) × 100 | | | \= {{{correctAnswer}}} |

sm_nogap Strategy 2 (advanced)
| | | | --------------------- | -------------- | | Overall increase | \= (1 × 1.25 × 1.40) − 1 | | | \= 1.75 − 1.00 | || \= 0.75| || \= {{{correctAnswer}}}|
correctAnswer
75%

Answers

Is Correct?Answer
✓

75%

x

65%

x

25%

x

35%

x

10

Variant 3

DifficultyLevel

707

Question

A laptop is sold by the wholesaler with a 15% markup.

The laptop is then sold by the retailer for 40% above the already increased price.

What is the overall percentage markup on the laptop?

Worked Solution

Strategy 1

Assume the laptop costs $1.00 (say)

Cost after 15% markup = $1.15

Cost after further 40% increase
= 1.15 + (40% × 1.15)
= 1.15 + 0.46
= $1.61

∴\therefore Overall Markup = (1.61 − 1.00) × 100
= 61%

Strategy 2 (advanced)
Overall markup = (1 × 1.15 × 1.40) − 1
= 1.61 − 1.00
= 0.61
= 61%

Question Type

Multiple Choice (One Answer)

Variables

Variable nameVariable value
question
A laptop is sold by the wholesaler with a 15% markup. The laptop is then sold by the retailer for 40% above the already increased price. What is the overall percentage markup on the laptop?
workedSolution
Strategy 1 Assume the laptop costs $1.00 (say) Cost after 15% markup = $1.15 sm_nogap Cost after further 40% increase
>>|| |-| |= 1.15 + (40% × 1.15)| |= 1.15 + 0.46| |= $1.61|

| | | | --------------------- | -------------- | | $\therefore$ Overall Markup | \= (1.61 − 1.00) × 100 | | | \= {{{correctAnswer}}} |

sm_nogap Strategy 2 (advanced)
| | | | --------------------- | -------------- | | Overall markup | \= (1 × 1.15 × 1.40) − 1 | | | \= 1.61 − 1.00 | || \= 0.61| || \= {{{correctAnswer}}}|
correctAnswer
61%

Answers

Is Correct?Answer
x

6%

x

39%

x

45%

x

55%

✓

61%

Variant 4

DifficultyLevel

708

Question

Courtney's salary increased by 5% last year.

Her salary is set to increase by a further 6% this year.

What is the overall percentage increase in Courtney's salary over the two years?

Worked Solution

Strategy 1

Assume Courtney's salary is $1.00 (say)

Salary after 5% increase = $1.05

Cost after further 5% increase
= 1.05 + (5% × 1.05)
= 1.05 + 0.0525
= $1.1025

∴\therefore Overall Markup = (1.1025− 1.00) × 100
= 10.25%

Strategy 2 (advanced)
Overall markup = (1 × 1.05 × 1.05) − 1
= 1.1025 − 1.00
= 0.1025
= 10.25%

Question Type

Multiple Choice (One Answer)

Variables

Variable nameVariable value
question
Courtney's salary increased by 5% last year. Her salary is set to increase by a further 6% this year. What is the overall percentage increase in Courtney's salary over the two years?
workedSolution
Strategy 1 Assume Courtney's salary is $1.00 (say) Salary after 5% increase = $1.05 sm_nogap Cost after further 5% increase
>>|| |-| |= 1.05 + (5% × 1.05)| |= 1.05 + 0.0525| |= $1.1025|

| | | | --------------------- | -------------- | | $\therefore$ Overall Markup | \= (1.1025− 1.00) × 100 | | | \= {{{correctAnswer}}} |

sm_nogap Strategy 2 (advanced)
| | | | --------------------- | -------------- | | Overall markup | \= (1 × 1.05 × 1.05) − 1 | | | \= 1.1025 − 1.00 | || \= 0.1025| || \= {{{correctAnswer}}}|
correctAnswer
10.25%

Answers

Is Correct?Answer
x

10%

✓

10.25%

x

30%

x

70%

x

89.75%

Variant 5

DifficultyLevel

707

Question

The price of petrol increased by 22% last month.

The price increase by a further 8% this month.

What is the overall percentage increase in the price of petrol over the two months?

Worked Solution

Strategy 1

Assume The original price of petrol is $1.00 (say)

Salary after 22% increase = $1.22

Cost after further 8% increase
= 1.22 + (8% × 1.22)
= 1.22 + 0.0976
= $1.3176

∴\therefore Overall Markup = (1.3176− 1.00) × 100
= 31.76%

Strategy 2 (advanced)
Overall markup = (1 × 1.22 × 1.08) − 1
= 1.3176 − 1.00
= 0.3176
= 31.76%

Question Type

Multiple Choice (One Answer)

Variables

Variable nameVariable value
question
The price of petrol increased by 22% last month. The price increase by a further 8% this month. What is the overall percentage increase in the price of petrol over the two months?
workedSolution
Strategy 1 Assume The original price of petrol is $1.00 (say) Salary after 22% increase = $1.22 sm_nogap Cost after further 8% increase
>>|| |-| |= 1.22 + (8% × 1.22)| |= 1.22 + 0.0976| |= $1.3176|

| | | | --------------------- | -------------- | | $\therefore$ Overall Markup | \= (1.3176− 1.00) × 100 | | | \= {{{correctAnswer}}} |

sm_nogap Strategy 2 (advanced)
| | | | --------------------- | -------------- | | Overall markup | \= (1 × 1.22 × 1.08) − 1 | | | \= 1.3176 − 1.00 | || \= 0.3176| || \= {{{correctAnswer}}}|
correctAnswer
31.76%

Answers

Is Correct?Answer
x

3%

x

17.6

x

30%

✓

31.76%

x

68.24%

Tags

  • ms_ca