Question

The Store's wholesale price of a t-shirt is $50. If the markup set by the store is 30%. Calculate the retail price set by the store on the t-shirt. (How much does the store sell the shirt for?) Wholesale price: Retail price: Mark up%: Work:

Answer 1

Answer:

$65.    

Step-by-step explanation:

Given:

The Store's wholesale price of a t-shirt is $50

The markup set by the store is 30%.

To find:

Calculate the retail price set by the store on the t-shirt.

Solution:

Wholesale price of a t-shirt =  $50

Markup % = 30

First of all we will find the markup value with the help of markup percentage and then we will simply add the wholesale price and markup value of T-shirt.

Markup value of T-shirt = $30\%\ 0f\ 50=\frac{30}{100} \times50=\frac{1500}{100} =\ 15$

Retail price of T-shirt = Wholesale price of a t-shirt + Markup value of T-shirt

Retail price of T-shirt = $50 + $15

Retail price of T-shirt = $65

Therefore, the retail price set by the store on the t-shirt is $65.