Final answer:
To find the amount of markup on a chandelier that a store bought for $84.78, multiply 20% (converted to a decimal 0.20) by the purchase price. The result is $16.956, which rounds to $16.96. Therefore, option A) $16.96 is the correct answer.
Step-by-step explanation:
The question asks about the markup on a chandelier that a store purchases for $84.78 and then marks up by 20%. To calculate the amount of markup, we simply calculate 20% of $84.78.
To convert the percent to a decimal, we move the decimal point two places to the left (20% becomes 0.20). The calculation will then look like this:
$84.78 × 0.20 = $16.956
After calculation, we find that the markup amount is $16.956, which is normally rounded to the nearest cent, giving us $16.96.
Therefore, the correct answer to the question is: A) $16.96