Question

Find the markup and the selling price of the following item. Round answers to the nearest cent. A suit costing $120.00 marked up 50% on cost
M =

S =

Answer 1

Answer

Find out the  markup and the selling price of the item.

To prove

As given

suit costing $120.00 marked up 50% on cost.

50% is written in the decimal form

$= \frac{50}{100}$

= 0.50

Markup price (M) = 0.50 × 120.00

                            = 0.50 × 120

                            = $60

As 1 dollar = 100 cent

Markup price in cent (M) = 60 × 100

                                         = 6000 cent

Selling price (S) = Suit price + Markup price

                           = 120 + 60

                           = $180

Selling price in cent = 180 × 100

                                 = 18000 cent

Therefore the markup price (M) is 6000 cent and the selling price is 18000 cent .

Answer 2

M=120×0.50=60
S=120+60=180