Question Number 13 For your sports equipment store, you purchase a case containing 24 canisters of tennis balls for $60. You in turn charge $4 for each canister. How much is the price of each case of tennis balls marked up?

The marked up price is $1,50 for each canister.

Explanation:

Markup price is the difference between the selling price of a good or service and cost.

In this case, the cost is $60 per 24 canisters. So, the unit cost is $60/24 units, $2,50 per unit.

The selling price is $4 per unit.

The marked up price is $4-$2,50=$1,50 or 60% ($4/$2,50)