The cost of a coffee maker is $76.70 the markup is 20% of the cost. What is the selling price of the coffee maker?
2 answers:
20% of 76.70 = x
Answer: The selling price of the coffee maker is $92.04
If the original cost is $76.70 but the company wants to make profit from the product, meaning they want to sell it higher than what they purchased it for in order to gain money, then you add the markup cost to the original cost (20%).
$76.70 + 20% of $76.70
=$76.70 + $15.34
=$92.04 selling price of coffee maker.
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