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Use the given information to find the new price. Round to the nearest cent. Original Price: $22 Markup Rate: 29% S

1 Answer

4 votes

The new price is $28.38

Here, given the original price and the markup rate, we want to get the new price

Mathematically, we have this as;


\text{New price = original price + markup rate of original price}

From the question;

original price = $22

markup rate = 29%

Substituting these values into the equation written above, we have that;


\begin{gathered} \text{New price = \$22 + (29\% of \$22)} \\ \text{New price = \$22 + (}(29)/(100)*22) \\ \\ \text{New price = \$22 + \$6.38} \\ \text{New price = \$28.38} \end{gathered}

User Jowenece
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