Final answer:
The total cost of a $50 tool set with a 10% markup is $55.00. The markup is calculated by converting 10% to a decimal (0.10) and multiplying it by the original price, then adding the result to the original price.
Step-by-step explanation:
To determine the total cost or sale price of a $50 tool set with a 10% markup, we need to first calculate the markup amount. We convert 10% to a decimal by dividing 10 by 100, which gives us 0.10. We then multiply the original price of the tool set by the decimal to find the markup amount.
$50.00 × 0.10 = $5.00
This means the markup on the tool set is $5.00. To find the total cost, we add the markup to the original price:
$50.00 + $5.00 = $55.00
The total sale price of the tool set, rounded to the nearest cent, is $55.00.