Question

find the new price after the markup given. round to the nearest cent if necessary. $145 marked up 175%

Answer 1

Answer:

Explanation:

Given that the initial/cost price is;

$\text{ \ 145}$

It was then marked up 175%.

The new price can be calculated using the formula;

$\begin{gathered} S=C+r(C) \\ S=(1+r)C \\ \text{where;} \\ S=\text{ new price} \\ C=\text{ cost price} \\ r=\text{markup percent in fraction} \end{gathered}$

Given;

$\begin{gathered} C=\text{ \ 145} \\ r=\frac{175\text{\%}}{100\text{\%}} \\ r=1.75 \end{gathered}$

substituting:

$\begin{gathered} S=(1+r)C \\ S=(1+1.75)\times\text{ \ 145} \\ S=2.75\times\text{ \ 145} \\ S=\text{ \ 398.75} \end{gathered}$

Therefore, the new price is;

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