Question

A toy retailer used a makeup rate of 35% find the sellling price of a toy that cost the retailer $2.27

Answer 1

The markup rate of 35% means that the retailer wants to add 35% of the cost to the selling price in order to make a profit.

First, let's calculate the markup amount:

Markup = 35% * $2.27 = $0.7955

Next, let's calculate the selling price:

Selling price = Cost + Markup = $2.27 + $0.7955 = $3.07

Therefore, the selling price of the toy is $3.07.