Question

You've just received an order of silk flower arrangements from your wholesaler. You paid $20.00 each for them. Your store uses a 10% markup rate. What is the selling price of the silk flower arrangements?
A. $200.00
B. $30.00
C. $2.00
D. $22.00

Answer 1

The answer to your question is D

Answer 2

Answer:

Option D. $22.00

Step-by-step explanation:

Markup price is the amount added to the cost price to cover overhead expenses and profit.

You paid $20.00 each for them. your store uses a 10% markup rate.

10% markup on $20.00 = ($\frac{10}{100}$ × 20) + 20

                                       = (0.10 × 20) + 20

                                        =   2 + 20 =  $22.00

The selling price is $22.00 of the silk flower arrangements.