Question

Use the original price and the markup to find the retail price.

Original price: $42; Markup: 7.5%

Answer 1

$45.15

Explanation:

When you are dealing with questions with percents in them—like this one—you have to turn the percent into a decimal. To make 7.5% into a decimal, you move the decimal point 2 spaces to the left. So, 7.5% is also 0.075.

Now, we have to use this formula for these types of questions:

x + x(y)= the price with tax (or markup)

So, we can substitute the variables.

42+42(0.075)=the retail price

42(0.075)=3.15

42+3.15=45.15

So, the retail price will be $45.15