Final answer:
To find the markup and retail price, the original cost is first multiplied by the markup percentage, and then the resulting markup is added to the original price to determine the retail price. The calculations yield the respective retail prices for each item when rounded to two decimal places.
Step-by-step explanation:
To list the markup and retail price of each item, we need to calculate the markup in dollars and then add it to the original price to find the retail price. The markup can be found by multiplying the original price by the markup percentage, and the retail price is the sum of the original price and the markup.
- For the Hat, the markup is $18.00 × 0.15 = $2.70. Therefore, the retail price is $18.00 + $2.70 = $20.70.
- For the Book, the markup is $22.50 × 0.42 = $9.45. The retail price then is $22.50 + $9.45 = $31.95.
- The Shirt has a markup of $33.75 × 0.75 = $25.31. The retail price is $33.75 + $25.31 = $59.06.
- Shoes markup is $74.99 × 0.33 = $24.75. Their retail price is $74.99 + $24.75 = $99.74.
- The Clock has a 100% markup which means the markup price is $48.60. It makes the retail price double the original, so $48.60 × 2 = $97.20.
- Lastly, the Painting with a 125% markup has a markup price of $185.00 × 1.25 = $231.25 and a retail price of $185.00 + $231.25 = $416.25.
In each of these calculations, if necessary, the final amount has been rounded to two decimal places.