Question

Cost of boots: $99.99 Markup: 9% What is the new cost

Answer 1

The new cost is $108.98

Explanation:

Mark up is the amount that is added to cost price of a product for profit.

Given

Cost price of boots = C = $99.99

Mark up = 9%

First of all we will calculate markup and then add it to the cost price of boots to find the new cost.

`Mark\ up = M = 9\%\ of\ 99.99\\= 0.09*99.99\\=\$8.99`

The new cost will be:

`C_n = Cost\ price + mark\ up\\C_n = 99.99+8.99\\= 108.98`

The new cost is $108.98