Question

Your typical markup for merchandise is 40%. your cost on an item is $8.00. calculate the selling price.

Answer 1

The selling price would be $11.20.

40% = 40/100 = 0.4

The mark up is 40% of the cost; this means 40% of 8:

40% of 8 = 0.4(8) = 3.20
8 + 3.20 = 11.20