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16 January, 00:31

List the markup and retail price of each item. Round to two decimal places when necessary. A shirt item price is $33.75 and the markup is 75%, what is the markup price and retail price.

Hint: You will need to convert 75% into a decimal

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  1. 16 January, 00:44
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    markup price = $25.31

    retail price = $59.06

    Step-by-step explanation:

    Markup price is 75% OF 33.75

    Retail price is original price (33.75) PLUS the markup price (to be found)

    Firstly, converting a percentage to a decimal is simple. We simply divide by 100. So:

    75% = 75/100 = 0.75

    Now, to find markup, we multiply:

    33.75 * 0.75 = $25.31

    Now, the retail price is SUM of original and markup, that would be:

    retail price = 33.75 + 25.31 = $59.06

    Thus,

    markup price = $25.31

    retail price = $59.06
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