Question

Bargain Feed Store has a markup rate of 14.1%. What price will the shop charge for a bag of horse feed that cost $12.22 wholesale?
Round to the nearest cent

Answer 1

Answer: $13.94

Step-by-step explanation:

Given : Bargain Feed Store has a markup rate of 14.1%.

The wholesale cost of bag of horse feed = $12.22

Price mark up = Mark up % x Whole sale cost

Price mark up =14.1% x $12.22

Price mark up $=\dfrac{14.1}{100}\times\ 12.22=\ 1.72302\approx\ 1.72$

Then , the final price of bag of horse feed will be :-

Final price =  wholesale cost +Price mark up

=$12.22+$1.72 = $13.94

Hence, the shop will charge $13.94 for a bag of horse feed that cost $12.22 wholesale.