Question

An item that cost $5.50 is marked up %60. What is the new price of the item after the markup? Show work please​

Answer 1

Answer:

$8.80

Step-by-step explanation:

In order to find the new price, you need to add 60% of the original price (5.50) to the original price. You have two options:

1) multiply $5.50*0.6 to get 60% of the original price. You would get $3.30. Then add $3.30+$5.50, which equals $8.80. This way takes longer but shows you all the steps.

2) The shorter way is to simply multiply $5.50*1.6, which also equals $8.80. This works because the "1" automatically adds the 5.50 to 60% of the original price, this way you don't have to multiply then add.

If you don't understand how the second way works or your teacher taught you #1, just do it the first way.