Question

A store owner paid $26.00 for a jacket. The owner marked up the price of the jacket by 73% and then sold the jacket.

What was the selling price of the jacket?

Answer 1

$44.98

Explanation:

The jacket's original price of $26 is considered 100% of the price. So, if the jacket's price was marked up 73% more than the original price, then we can add these percentages together. This means that the jacket was sold for a total of 173% of the original price.

So, to solve the problem you must find 173% of 26. To find the percentage of any number you can use multiplication by the decimal form. To do this you must first turn the percent into a decimal. Do this by moving the decimal point 2 spaces to the left (or divide by 100). This means that 173% = 1.73

Then, the final step is to multiply 26*1.73. This equals $44.98 which is the final price of the jacket.