A store buys an item for $50 and marks it up 100%. What is the price?
2 answers:
<u>Answer</u>
= $100
<u>Explanation</u>
Profit = selling price - buying price
percentage profit = profit/buying price × 100%
100% = profit /$50
Profit = 100% × $50
= 100/100 × $50
= 1 × $50
= $50
Selling price = buying price + profit
= $50 + $50
= $100
$100
100% would be doubling it.
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