Question

A sports shop got a skateboard that cost them $80. In order to make a
profit, they decide to add a 37.5% markup. What is the retail price of the
skateboard?

Answer 1

○=> Correct answer :

The retail price of the skateboard = $\color{hotpink}\boxed{\bold{\tt\bold{\ 110}}}$

○=> Steps to derive correct answer :

Given :

▪︎Cost price of a skateboard in a sports shop = $80

▪︎Percentage of markup in the price of the skateboard = 37.5%

Which means :

The retail price of the skateboard :

= Intial price of skateboard + 37.5% of it's initial price

$= \tt80 + 37.5\% \: of \: 80$

$=\tt 80 + \frac{37.5}{100} \times 80$

$=\tt 80 + \frac{37.5 \times 80}{100}$

$= \tt80 + \frac{3000}{100}$

$=\tt 80 + 30$

$\color{plum} = \tt\bold{\ 110}$

Therefore, the retail price of the skateboard = $110