Question

Cost of a sweater is $33.95 and the markup is 70%What is the price?

Answer 1

We are given the following information

Cost of the sweater = $33.95

Markup = 70%

We are asked to find out the selling price of the sweater.

The selling price is given by

`SP=((CP)/(100\%-MP))*100`

Where SP is the selling price

CP is the cost price

MP is the markup percentage

So the selling price becomes

`\begin{gathered} SP=((33.95)/(100-70))*100 \\ SP=((33.95)/(30))*100 \\ SP=\$113.167 \end{gathered}`

Therefore, the selling price is $113.167