To find the markup on the necktie, let's break down the steps in detail:
1. Determine the cost of one necktie:
- A dozen neckties cost [tex]$30.00.
- There are 12 neckties in a dozen.
- To find the cost of one necktie, divide the total cost by the number of neckties:
\[
\text{Cost per necktie} = \frac{\text{Total cost per dozen}}{\text{Number of neckties in a dozen}} = \frac{30.00}{12}
\]
\[
\text{Cost per necktie} = 2.50
\]
So, the cost of one necktie is $[/tex]2.50.
2. Identify the selling price of one necktie:
- The selling price of one necktie is given as [tex]$5.00.
3. Calculate the markup:
- The markup is the difference between the selling price and the cost price.
- Subtract the cost price of one necktie from the selling price:
\[
\text{Markup per necktie} = \text{Selling price per necktie} - \text{Cost per necktie}
\]
\[
\text{Markup per necktie} = 5.00 - 2.50
\]
\[
\text{Markup per necktie} = 2.50
\]
Thus, the markup on one necktie is $[/tex]2.50.
In summary, the necktie costing [tex]$30.00 per dozen has an individual cost of $[/tex]2.50 per tie, sells for [tex]$5.00 per tie, and the markup per tie is $[/tex]2.50.
