Question

a clothing store pays $8 for a coin purse and sells them at 40% markup rate based on cost. what is the selling price of the coin purse

Answer 1

8 dollars with a forty percent mark up cost would make the total $11.20.
Forty percent more of $8 would be $3.20, once you add them together you will get the total. 

Answer 2

$8(100+40)/100

$8(140/100)

$8(1.4)

$11.20