Answer: $81.60
Step-by-step explanation:
When we have an original price OP, and a markup of X% (this is how much increases the price with respect to the original price)
The retail price will be:
RP = OP + (X%/100%)*OP
RP = OP*(1 + X%/100%)
In this case, we have:
Original price = OP = $68
markup = X% = 20%
Replacing these in the above equation, we get:
RP= $68*(1 + 20%/100%) = $68*(1 + 0.20)
RP = $68*(1.20) = $81.60
Then the retail price of this particular item is $81.60
