Question

you are walking through your store and you notice the retail price of your newest chairs is $172.50. you think there may be a mistake. the cost was 115.00 and you planned to market them at a 50% retail mark up. which of the following would be correct, if the pricing was wrong: question 29 options: there is nothing wrong with the retail, $172.50 is correct $230.00 $287.50 $300.00

Answer 1

The retail price of $172.50 is correct for the newest chairs, as it includes a 50% markup on the original cost of $115.00.

Step-by-step explanation:

You are walking through your store and you notice the retail price of your newest chairs is $172.50. You think there may be a mistake. The cost was $115.00 and you planned to market them at a 50% retail markup. When calculating the correct retail price with a 50% markup, you take the original cost and add 50% of that cost.

To find the marked-up retail price: $115.00 + (0.5 × $115.00) = $115.00 + $57.50 = $172.50. Thus, the retail price of $172.50 is indeed correct with a 50% markup on the cost of the chair.