Question

The Grey Goat buys a bicycle wholesale for $125.50 and marks up the price by 75% to sell to the customer. What is the retail price of the bicycle? Group of answer choices

Answer 1

$219.625

Explanation:

0.75 x $125.50 = $94.125

Total retail price = $125.5 + $94.125

= $219.625

Answer 2

$219.63

Explanation:

Market is the net of price and the cost of the product. It is calculated by applying a defined percentage on cost of the product and added to the cost to make a price to sale.

The wholesale price / cost = $125.50

Mark up rate = 75%

Markup received = $125.50 x 75% = $94.13

Retail Price = Cost + Markup

Retail Price = 125.50 + 94.13 = $219.63