Question

a shoe store has a 60% markup on a can of soup. the can of soup costs the store 1.50.what is the selling price for the can of soup

Answer 1

To do it in one simple equation, you multiply the cost ($1.5) by the increase + 100%.
1.5 * 1.60
which gives you 
$2.40

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Answer 2

1.50(60%)=0.9
Add 0.9 to 1.50
0.9+1.50 = 2.40 for the can of soup.