Question

Gas prices are typically marked up for holiday travel. If prices are marked up 10% and the regular price is $2.45, what will be the price after the mark-up?

Answer 1

To find the new price of gasoline after a 10% holiday mark-up on the regular price of $2.45, you calculate 10% of $2.45, which is $0.245, and add it to the original price. The final price of gasoline would be $2.70 per gallon after rounding to the nearest cent.

Step-by-step explanation:

To calculate the new price of gasoline after a 10% mark-up on the regular price of $2.45, we first need to figure out how much the 10% increase is in dollar terms. To do this, we multiply the regular price by the percentage increase: $2.45 × 0.10 = $0.245. This is the amount that will be added to the original price due to the mark-up.

Now, we add the mark-up to the regular price: $2.45 + $0.245 = $2.695. Since prices at the pump are usually rounded to the nearest cent, the final marked-up price for the gasoline would be $2.70 per gallon.

Answer 2

Step-by-step explanation:

Marked up 10% means that its 110% of the current price so.

1.10 (move decimal twice to the left since it is a percentage)

1.10 x 2.45 =2.695

Since we are talking about money just round up so:

$2.70 or $2.69