Question

a music store marks up the instruments it sells by 30%.If the store bought a guitar for $45, what will be its store price? Give your answer in money format for example if your answer is 14.2, you should type $14.20. No spaces. *

Answer 1

Selling price= $58.5

Explanation:

Giving the following information:

Guitar cost price= $45

Mark up percentage= 30%

To calculate the selling price of the guitar, we need to use the following formula:

Selling price= cost price*(1+mark up)

Selling price= 45* (1+0.3)

Selling price= 45*1.3

Selling price= $58.5