Question

What price should a retailer place on an item that costs him $6.95, if he wants a markup of 33%? $

Answer 1

9.24

Explanation:

Answer 2

so he wants to mark the product up by 33%, now, if we take 6.95 to be the 100%, what is 33% of that?


`\bf \begin{array}{ccll} amount&\%\\ \text{\textemdash\textemdash\textemdash}&\text{\textemdash\textemdash\textemdash}\\ 6.95&100\\ x&33 \end{array}\implies \cfrac{6.95}{x}=\cfrac{100}{33}\implies \cfrac{6.95\cdot 33}{100}=x`

so the marked up price will be 6.95 + x.