Question

A sports shop got a skateboard that cost them $80. In order to make a

profit, they decide to add a 37.5% markup. What is the retail price of the
skateboard?

Answer 1

○=> Correct answer :

The retail price of the skateboard =
`\color{hotpink}\boxed{\bold{\tt\bold{\$110}}}`

○=> Steps to derive correct answer :

Given :

▪︎Cost price of a skateboard in a sports shop = $80

▪︎Percentage of markup in the price of the skateboard = 37.5%

Which means :

The retail price of the skateboard :

= Intial price of skateboard + 37.5% of it's initial price

`= \tt80 + 37.5\% \: of \: 80`

`=\tt 80 + (37.5)/(100) * 80`

`=\tt 80 + (37.5 * 80)/(100)`

`= \tt80 + (3000)/(100)`

`=\tt 80 + 30`

`\color{plum} = \tt\bold{\$110}`

Therefore, the retail price of the skateboard = $110