Question

A store marked up the prices p of its merchandise by 11%. The marked-up prices of the merchandise can be written as 1.11p. Which other expressions is the equal to?

Answer 1

Answer:

P(1+r) = p(1+0.11)= p+0.11p=1.11p

Step-by-step explanation:

The merchandise is marked up 11%. This means you pay 100% of the price plus 11%. We can represent that as (1+r) where r is the percent marked above. For 11%, this expression would be 1+0.11. We multiply that by the price p. p(1+0.11). This simplifies to p+0.11p. We can further simplify it to 1.11p.