9514 1404 393
Answer:
a) markup: $162.50
b) selling price: $175.50
Step-by-step explanation:
Use the given formulas to answer the questions.
1) Markup Amount = Cost × Markup Rate
Markup Amount = $13 × 1250% = $13 × 12.50
Markup Amount = $162.50
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2) Selling price = Cost + Markup Amount
Selling price = $13 +162.50
Selling price = $175.50
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<em>Comment on percents</em>
The % symbol can be thought of as a shorthand way to write /100. That is, anyplace you see %, you can substitute /100, and vice versa.
1250% = 1250/100 = 12.50
