Find the markup and the selling price of the following item. Round answers to the nearest cent. A suit costing $120.00 marked up
1 answer:
Answer: The mark up amount on suit is $60 and the selling price of suit is $180.
Step-by-step explanation:
Given: The cost price of the suit = $120
The mark up percent on suit = 50 %
Therefore, the mark up amount = 50% of $120
⇒ The mark up amount =
The mark up amount =$60
Now, the selling price of suit = Cost price +Mark up
The selling price of suit =$120+$60=$180
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