Question

Bargain Feed Store has a markup rate of 14.1%. What price will the shop charge for a bag of horse feed that cost $12.22 wholesale?

Round to the nearest cent

Answer 1

Answer: $13.94

Explanation:

Given : Bargain Feed Store has a markup rate of 14.1%.

The wholesale cost of bag of horse feed = $12.22

Price mark up = Mark up % x Whole sale cost

Price mark up =14.1% x $12.22

Price mark up
`=(14.1)/(100)*\$12.22=\$1.72302\approx\$1.72`

Then , the final price of bag of horse feed will be :-

Final price = wholesale cost +Price mark up

=$12.22+$1.72 = $13.94

Hence, the shop will charge $13.94 for a bag of horse feed that cost $12.22 wholesale.