A discount store marks up the merchandise it sells by 55%. If wholesale price a particular item is $25, what should the retail price be?

Question

Eva Abramson · Accepted Answer

See a solution process below:

The formula for determining the mark up price of an item is: #p = c + (c * m)# Where: #p# is the price (retail price) of the item: what we are solving for. #c# is the cost (wholesale price) of the item: $25 for this problem. #m# is the mark up percent: 55% for this problem. "Percent" or "%" means "out of 100" or "per 100", Therefore 55% can be written as #55/100#. Substituting and calculating #p# gives: #p = $25 + ($25 * 55/100)# #p = $25 + ($1375)/100# #p = $25 + $13.75# #p = $38.75# The retail price of the item is $38.75

Isaiah Anthony · Answer

undefined To find the retail price after a 55% markup, you first need to calculate the markup amount. The markup amount is 55% of the wholesale price, which is 0.55 * $25 = $13.75. Then, you add this markup amount to the wholesale price to find the retail price. So, the retail price should be $25 + $13.75 = $38.75.