Question

Flip-flops have a wholesale cost of $8.00. A shoe store wants to sell them with a markup of 85%. What are the amounts of markup and the retail price of the footwear?

Answer 1

$6.8 and

$14.8

Explanation:

Given wholesale cost = $8.00

A store wants to sell them with a markup of 85%.

That’s 85% of the wholesale cost .

Therefore, markup amount =

85% /100% x $8.00

0.85 x $8.00

$6.8

The retail price = markup amount + wholesale cost

That’s

$6.8 + $8.00

$14.8

Therefore, the markup amount is $6.8 while the retail price is $14.8