Question

Cost of a sweater is $33.95 and the markup is 70%What is the selling price?

Answer 1

The cost of the sweater is $33.95.

The markup is 70%.

We are asked to find the selling price

The selling price can be found using

`SP=CP*((100\%+MP))/(100)`

Where CP is the cost price, MP is the markup percentage, and SP is the selling price.

Let us substitute the given values

`\begin{gathered} SP=33.95*((100+70))/(100) \\ SP=33.95*(170)/(100) \\ SP=\$57.715 \end{gathered}`

Therefore, the selling price of the sweater is $57.715