Question

The wholesale cost of a pair of sandals at a shoe store is $22.60. The markup for the sandals is 45%. What is the selling price of the sandals?

Answer 1

Answer:

The selling price of sandals is: $32.77

Step-by-step explanation:

Mark up is the price that is added to the cost price of a product for profit.

Given

Price of sandals = $22.60

Mark up = 45%

To find the price with mark up, we will find the amount of mark up and then add it to the cost price of sandals.

$Mark\ up = 45\%\ of\ 22.60\\= 0.45*22.60\\=10.17$

The mark up is $10.17

Now,

$Selling\ price = Cost + mark\ up\\= 22.60+10.17\\=32.77$

Hence,

The selling price of sandals is: $32.77