Question

San T. Clozz marks up his merchandise at his store by 150%. How much is an item with a wholesale price of $55 sell for?

A) $55
B) $137.50
C) $80
D) $82.50

Answer 1

The item with a wholesale price of $55 will sell for $137.50 after a 150% markup, making the correct answer option B.

Step-by-step explanation:

To find out how much an item will sell for with a 150% markup on its wholesale price, we first need to calculate the markup amount. We can do this by multiplying the wholesale price by the markup percentage. The wholesale price of the item is $55, and the markup percentage is 150% (which can be expressed as 1.5 in decimal form).

To calculate the markup amount: $55 × 1.5 = $82.50.

We then add this markup amount to the original wholesale price to find the final selling price. The final selling price is: $55 + $82.50 = $137.50. Therefore, the item will sell for $137.50, and the correct answer is option B.