Given:
Original price = $231.00
Markup price is [tex]\dfrac{1}{6}[/tex] of the original price.
To find:
The markup price for the concert ticket.
Solution:
It is given that, markup price is [tex]\dfrac{1}{6}[/tex] of the original price. So,
[tex]\text{Markup price}=\dfrac{1}{6}\times \text{Original price}[/tex]
[tex]\text{Markup price}=\dfrac{1}{6}\times 231[/tex]
[tex]\text{Markup price}=\dfrac{231}{6}[/tex]
[tex]\text{Markup price}=38.5[/tex]
Therefore, the markup price for the concert ticket is $38.5.
