Question

A retailer buys a coat in bulk at a unit price of $45. The coat is marked up to 28% to sell in the store. What is the price of the coat in the store?

Answer 1

57.60

Explanation:

If the coat is marked up 28%, then the cost is increased by 28% to produce the selling price.

SP = 45 + 28/100 * 45

SP = Selling Price

SP = 45 + 28*45 / 100

SP = 45 + 1260 / 100

SP = 45 + 12.60

SP = 57.60

Answer: The selling price is 57.60