Question

An office equipment store buys highlighter pens boxes at a wholesale price of $15 each. It then marks up the price by 94%, and sells the highlighter pens boxes. What is the amount of the markup? What is the selling price?

The amount of the markup is $29.10, and the selling price is $14.10.


The amount of the markup is $14.10, and the selling price is $0.90.


The amount of the markup is $94, and the selling price is $109.00.


The amount of the markup is $14.10, and the selling price is $29.10.

Answer 1

Option (d) is correct.

Explanation:

Given that,

The wholesale price of a pen is $15.

It then marks up the price by 94%.

Its marked price is equal to 94% of $15. So,

`\text{MP}=(94)/(100)* \$15\\\\\text{MP}=\$14.1`

Selling price of the highlighter pen is equal to the sum of marked price and the wholesale price.

SP = $14.1+$15

SP = $29.1

Hence, the marked price is $14.1 and the selling price is $29.1