Question

The price of an item at the store can be defined by the variable x.

Based on this information, which of the options below represents a markup in price for that item?
A) 1.03x
B) 1.08x
C) 1.24x
D) 0.75x
E) 0.68x

Answer 1

A) 1.03x ; B) 1.08x ; C) 1.24x

Explanation:

Given that :

Price of item = x

The Markup is obtained as :

Initial price + profit

As a percentage :

100% of x + percentage added

x + percentage added

No matter the percentage added to x above, the marked up price will be a certain percentage above 100% of x ; that is > 1x

Hence, the Marked up price will always be greater than 1 ;

From the option given, the possible mark up price will be :

A) 1.03x ; B) 1.08x ; C) 1.24x as they are greater than. 100% of x