Answer:
The mark up is $2.20 and the new price of each T-shirt is $6.20.
Step-by-step explanation:
Before we find the new price of each T-shirt we must find the markup (by how much were raising the price).
The problem states each T-shirt costs $4.00, but then marks up the price of each by 55%.
Step 1 would be to find 55% of $4.00.
0.55 * 4 = 2.2
So that is the mark up, the price is going up by $2.20. To find the new price of each T-shirt, you take that $2.20 and add it to the original $4.00.
$4.00 + $2.20 = $6.20
So the mark up is $2.20 and the new price of each T-shirt is $6.20.
