Question

A bike store sells scooters at a 54% markup. If the store bought each scooter for $29.25, what is the resale price to the nearest dollar

Answer 1

The purchasing price of the store = $29.25.

They want to resale it at 54% markup of the purchasing price.

54% of 29.25 = 0.54 × 29.25.

On multiplying 0.54 and 29.25, we get 15.795.

Resale price = The purchasing price + Markup

                      = 29.25 + 15.795.

On adding 29.25 and 15.795, we get 45.045.

We can round it to 45 to the nearest dollar.

Therefore, the resale price to the nearest dollar is $45.