Question

A store pays $1.50 for a bag of candy. If the store wants to mark-up the price 60%,

for how much will the store sell the bag of candy?

Answer 1

The store will sell the bag of candy for $2.40.

Step-by-step explanation:

To calculate the selling price of the bag of candy, we need to add the markup percentage to the cost price.

In this case, the markup percentage is 60% of the cost price, which is $1.50.

To find 60% of $1.50, we can multiply $1.50 by 0.60.

The result is $0.90.

To calculate the selling price, we add the cost price and the markup amount.

The cost price is $1.50 and the markup amount is $0.90.

Adding them together, the selling price is $2.40.

Therefore, the store will sell the bag of candy for $2.40.

Answer 2

Selling price = $2.4

Step-by-step explanation:

Given:

Purchase price = $1.50

Increase in price = 60%

Find:

Selling price

Computation:

Selling price = Purchase price + (Purchase price)(Increase in price)

Selling price = $1.5 + (1.5)(60%)

Selling price = $1.5 + 0.9

Selling price = $2.4