Question

The cost of a car battery costs $35 wholesale for the automotive store to buy, but they need to markup the cost 40% for the retail price. How much is the markup amount? And how much is the retail price?

Answer 1

The markup amount is $14 and the retail price is $49.

Explanation:

You can use the following formula to find the retail price with the information provided:

Retail price=Cost*(100%+markup %)

Cost=35

Markup %= 40%

Now, you can replace the values in the formula:

Retail price=35*(140%)

Retail price=49

Now, you can subtract the cost from the retail price to find the markup amount:

49-35=14

According to this, the answer is that the markup amount is $14 and the retail price is $49.