What price should a retailer place on an item that costs him $6.95, if he wants a markup of 33%?

Question

asked Oct 4, 2018 81.1k views

2 Answers

Anxieux · Answer 1 · 2018-10-08T01:19:06+0000

Answer:

The marked price of the item is $9.24.

Explanation:

The cost of an item is $6.95.

The retailer wants a markup of 33%.

The markup amount is

6.95* (33)/(100)=2.2935

The marked pries is the addition of original cost and markup value.

$\text{Marked price}=6.95+2.2935=9.2435\approx 9.24$

Therefore the marked price of the item is $9.24.