Question

A toy store buys teddy bears from a factory for $11.00 per bear. If they mark-up the bears 85% before selling them, what is the price of one of the bears in the store?

Answer 1

To find the price of one teddy bear in the store, add the mark-up percentage to the cost price.

Step-by-step explanation:

To find the price of one teddy bear in the store, we need to add the mark-up percentage to the cost price. The mark-up percentage is 85%, which means the store adds 85% of the cost price to the cost price. In this case, the cost price of a bear is $11.00. To calculate the mark-up amount, we multiply the cost price by 85%: $11.00 ✕ 85% = $11.00 ✕ 0.85 = $9.35. Finally, we add the mark-up amount to the cost price: $11.00 + $9.35 = $20.35. Therefore, the price of one teddy bear in the store is $20.35.