Question

Seventh grade > M.6 Percent of a number: tax, discount, and more SPN

A store pays $871 for a gold ring. The store marks up the price by 26%. What is the
amount of the mark-up?
Round your answer to the nearest dollar: $
Submit

Answer 1

$1097.46

Explanation:

Assume P is the finall price. The markup of 26% can be written in decimal form as 0.26. This is in additon to the full price paid for the gold ring, so we can add 1.00 to 0.26 to arrive at the factor 1.26. Multiply 1.26 times the store cost of $871 to find the amount after 26% markup:

($871)*(1.26) = $1097.46