Question

A store is selling a hat at a 55 percent markup. The store originally paid $16 for the hat. What is the retail price of the hat? $23.80 $24.00 $24.80 $24.83

Answer 1

Answer: 24.80

Explanation:

Answer 2

$24.80

Explanation:

Original price paid for the hat = $16

Percent markup = 55%

Interest amount on the hat = 55% of original price = 55% * $16

Interest on hat = 55/100* 16 = $8.8

Retail price = Original price of hat + store interest amount

Retail price = $16+$8.8

Retail price $24.80