Question

Find the markup and the selling price of the following item. Round answers to the nearest cent.

A skateboard costing $39.00 marked up 40% on cost.

Markup = a. $97.50
b. $15.60
c. $40.00

Selling price = a. $1.00
b. $54.60
c. $79.00

Answer 1

The correct answer for the markup is B, 15.60. multiply 39x.4 and then subtract that answer to get 15.60.
the selling price is now B, 54.60

Answer 2

Mark up: $15.6 (option b)

Selling Price: $54.6 (option b)

Explanation:

Hi, to answer this question we have to analyze the information given:

A skateboard costing $39.00 marked up 40% on cost.

To calculate the markup we have to multiply the skateboard cost (39) by the percentage in decimal form (40/100= 0.4)

39 x 0.4 =15.6

Mark up: $15.6 (option b)

For the selling price we have to sum the cost and the markup:

15.6 + 39 = 54.6

Selling Price: $54.6 (option b)

Feel free to ask for more if needed or if you did not understand something.