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Laura's sporting goods store purchased a bicycle at the wholesale price of $400. Laura marked up the price 22%. What is
the amount of markup?
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Answer 1

The amount of markup is 88 dollars.

Explanation:

Given that the whole sale price of bicycle is: $400

`P = \$400`

Mark up is the profit that the seller of the product makes after selling the product more in price more than its cost or buying price.

Given that mark up percentage is 22%

It can be written mathematically as:

`Mark\ up = 22\%\ of\ Price\\Mark\ up = 0.22 * P\\Mark\ up = 0.22 * 400\\= \$88`

Hence,

The amount of markup is 88 dollars.