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Questions and Answers
What is the cost to the owner of buying a used comic book from a customer?
What is the markup percentage applied to the cost of the used comic book when reselling it?
What is the selling price of the used comic book if the owner buys it for $0.60?
What is the profit made by the owner on selling one used comic book?
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If the owner buys 10 used comic books from customers, how much will they pay in total?
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Study Notes
Buying and Reselling Used Comic Books
- The owner of a used bookstore buys used comic books from customers at $0.60 each.
- The owner marks up the price of the used comic books by 250% before reselling them.
- To find the resale price, multiply the buying price by 3.5 (100% + 250% = 350%): $0.60 x 3.5 = $2.10.
- The price of the used comic book in the bookstore is $2.10.
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Description
A used bookstore owner buys used comic books and resells them with a markup. Calculate the selling price.
