Question

Find the markup and the selling price of the following item. Round answers to the nearest cent. A chemistry set costing $38.50, marked up 32% on cost. Markup = ? Selling price = ?

Answer 1

markup, 12.32

selling price, 50.82

Explanation:

Answer 2

In order to compute the markup, compute the percentage like this:

`38.50*0. 32=12,32`
The markup is then $12,32.
The selling price is the sum of the cost and the markup:

`38.50+12,32=50,82`