Question

9) Cost to store: : $70Markup: 80%Selling price?

Answer 1

C.p = 70

Selling price = S.p = ?

% profit = 80

We will use the fomula

`\text{profit percent =}\frac{s.p\text{ - c.p}}{c.p}*100`

substitute the values and solve for s.p

`80=(s.p-70)/(70)*100`

Divide both-side of the equation by 100

`0.8=\frac{s.p\text{ - 70}}{70}`

Multiply both-side of the equation by 70

56 = s.p - 70

Add 70 to both-side of the equation

56 + 70 = s.p

126 = s.p

Therefore, the selling price is $126