Question

17th Street Surf shop buys t-shirts wholesale for $5 each. They sell them after a mark p of 75%. Find the amount of mark up and the retail price. markup price: retail price: please help me

Answer 1

Given:

Wholesale price = $5

They sell them after a markup of 75%.

To find:

The amount of mark up and the retail price.

Solution:

We have,

Wholesale price = $5

Markup% = 75%

`Markup=5* (75)/(100)`

`Markup=5* 0.75`

`Markup=3.75`

Now,

Retail price = Wholesale price + Markup

`\text{Retail price}=5+3.75`

`\text{Retail price}=8.75`

Therefore, the markup price is $3.75 and retail price is $8.75.