Question

find the new price after the markup given. round to the nearest cent if necessary. $145 marked up 175%

Answer 1

Step-by-step explanation:

Given that the initial/cost price is;

`\text{ \$145}`

It was then marked up 175%.

The new price can be calculated using the formula;

`\begin{gathered} S=C+r(C) \\ S=(1+r)C \\ \text{where;} \\ S=\text{ new price} \\ C=\text{ cost price} \\ r=\text{markup percent in fraction} \end{gathered}`

Given;

`\begin{gathered} C=\text{ \$145} \\ r=\frac{175\text{\%}}{100\text{\%}} \\ r=1.75 \end{gathered}`

substituting:

`\begin{gathered} S=(1+r)C \\ S=(1+1.75)*\text{ \$145} \\ S=2.75*\text{ \$145} \\ S=\text{ \$398.75} \end{gathered}`

Therefore, the new price is;