Question

$10.82 for 2 earmuffs markup rate is 72%. what is the markup and retail price for 2 earmuffs

Answer 1

Markup=10.82(72/100)≈$7.79  (to nearest cent)

retail=10.82(100+72)/100≈$18.61 (to nearest cent)

Answer 2

If the markup rate for 2 earmuffs is 72%, to calculate the markup, we have to find 72% of the original price, $10.82. "Of" is a word that indicates we must multiply the percent by the price--to do that, we must convert the percent into a decimal, like so:
$72percent = \frac{72}{100} = 0.72$
Next, multiply the decimal form of 72% by the original cost:
$0.72 * 10.82 = 7.79$
The markup is $7.79.

To calculate the new price, we have to add the original cost and the markup, like so:
$10.82 + 7.79 = 18.61$
The new retail price is $18.61.

Hope this helps!