Question

A store is selling a hat at a 55 percent markup. The store originally paid $16 for the hat. What is the retail price of that hat?

Answer 1

Answer: Hence, the retail price of that hat is $24.8.

Step-by-step explanation:

Since we have given that

Original price of the hat = $16

Rate of mark up = 55%

So,Amount of mark up would be

$\dfrac{55}{100}\times 16\\\\=0.55\times 16\\\\=\ 8.8$

So, the retail price of that hat would be

$\ 16+\ 8.8\\\\=\ 24.8$

Hence, the retail price of that hat is $24.8.

Answer 2

If the hat is at a 55% markup, then the retail price is 1.55 * original price($16)
1.55*16 = $24.80