Question

You are helping your family run a store and decide to mark up the items you are selling for a profit by 35%. An item you want to sell in the store cost $4.38 from the warehouse. If you apply the 35% mark up, what will be the sale price of the item in your store. (Round to the nearest cent)

Answer 1

Answer: $6

Explanation:

Cost of item = $4.38

Mark up percent = 35%

Sakes price will be the addition of the cost price and the mark up price. This will be;

= $4.38 + (35% × $4.38)

= $4.38 + (0.35 × $4.38)

= $4.38 + $1.533

= $5.913

= $6 approximately