Since the wholesale price is $12.5, the markup price is equal to $9.75.
The retail sale price is $22.25.
Generally speaking, the markup price of a product can be calculated by multiplying the cost price by the markup value.
In order to determine the markup price based on the wholesale price, we would multiply the wholesale price by the percentage markup as follows;
Markup price = Wholesale price × Percentage markup
Markup price = 12.5 × 78/100
Markup price = 12.5 × 0.78
Markup price = $9.75
For the retail sale price, we have:
Retail sale price = Markup price + Wholesale price
Retail sale price = $9.75 + $12.50
Retail sale price = $22.25.
Complete Question:
Wholesale price: $12.50. %Markup: 78%.
What is the Markup and retail sale price?