Question

The wholesale cost for a purse in a department store is $12.50. The store plans to mark up the purse by 140%. What will be the selling price of

the purse to the nearest cent?

Give me the right anwser

Answer 1

Answer:

$30.00

Step-by-step explanation:

Percentage Markup formula =

Selling price - Cost price/Cost price × 100

From the question:

Cost price = $12.50

Selling price = unknown = x

Percentage Markup = 140%

140% = x - $12.50/$12.50 × 100

140/100 = x - $12.50/$12.50

1.4 = x - $12.50/$12.50

Cross Multiply

1.4($12.50) = x - 312.50

$17.50 = x - $12.50

x = $17.50 + $12.50

x = $30.00

Therefore, the selling price of the purse is $30.00