Final answer:
To determine the selling price of an item using a 130% markup on a $100 cost, convert the markup to a decimal and multiply by the cost, then add it to the original cost, which results in a selling price of $230.
Step-by-step explanation:
To find the selling price of an item with a markup percentage, you'll want to first calculate the markup amount by converting the percentage to a decimal and multiplying it by the cost of the item. With Moody using a markup percentage of 130 on a $100 item, we follow these steps:
- Convert the markup percentage to a decimal: 130% = 1.30.
- Multiply the decimal by the item's cost: $100 × 1.30 = $130.
- Add the markup to the original cost to find the selling price: $100 + $130 = $230.
Therefore, the selling price of the item would be $230.