Question

Brian May, guitarist for Queen, does not know how to price his signature Antique Cherry Special that cost him £316 to make. He knows he wants 75% markup on cost. What price should Brian May ask for the guitar?

Answer 1

Answer:

£553

Explanation:

Given the cost of Brian's guitar as £316, if he wants a 75% mark up on the cost, therefore the asking price for his guitar will be;

$\begin{gathered} \text{Asking price}=316+(75\text{\% of 316)} \\ =316+(\frac{75}{100}\times316) \\ =316+(0.75\times316) \\ =316+237 \\ =553 \end{gathered}$