Question

A Jeweler adds a 120% markup to a ring. If it originally cost $100, how much would a customer pay for the ring?

Answer 1

So here in the question we've been given to find out the total cost for the ring which customer should pay. So let's first of all calculate excatly the markup value. We can write it as,

`:\implies\tt{120\% * 100}`

`:\implies\tt{ (120)/(100) * 100}`

`:\implies\tt{1.2 * 100}`

`:\implies\tt{120}`

The total cost for the customer to pay will be summation of all costs introduced which is,

`:\implies\tt{s.e = cost + markup}`

`:\implies\tt{s.e = 100 + 120}`

`:\implies\tt{s.e = 220}`

• The total price the customer must pay is 220$.

Answer 2

$220

Explanation:

The markup is ...

120% × $100 = $120

The customer pays ...

selling price = cost + markup

selling price = $100 +120 = $220

The customer would pay $220 for the ring.