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 would be the correct answer :)

Answer 2

The marked price of the item is $9.24.

Explanation:

The cost of an item is $6.95.

The retailer wants a markup of 33%.

The markup amount is

`6.95* (33)/(100)=2.2935`

The marked pries is the addition of original cost and markup value.

`\text{Marked price}=6.95+2.2935=9.2435\approx 9.24`

Therefore the marked price of the item is $9.24.