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EXAMPLE 2

Clothing. A shirt has a wholesale price of $16 . The percent markup is 120%. What is the retail price?. STEP 1. Find the amount of the markup. Markup. 120% of $16. =. 1.2(16). =. 19.2. =. EXAMPLE 2. Finding a Retail Price. SOLUTION. Write 120% as a decimal. Multiply. STEP 2.

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EXAMPLE 2

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  1. Clothing A shirt has a wholesale price of $16. The percent markup is 120%. What is the retail price? STEP 1 Find the amount of the markup. Markup 120%of$16 = 1.2(16) = 19.2 = EXAMPLE 2 Finding a Retail Price SOLUTION Write 120% as a decimal. Multiply.

  2. STEP 2 Add the markup to the wholesale price. 16 19.2 35.2 + = ANSWER The retail price of the shirt is $35.20. EXAMPLE 2 Finding a Retail Price

  3. A portable CD player costs $48 before tax. The sales tax is 4.5%. What is the total cost? CD Player STEP 1 Find the amount of the sales tax. 4.5% of $48 2.16 = = 0.045(48) Add the sales tax to the price of the portable CD player. STEP 2 50.16 2.16 + 48 = EXAMPLE 3 Finding a Retail Price SOLUTION

  4. ANSWER The total cost of the CD player is $50.16. EXAMPLE 3 Finding a Retail Price

  5. 5. Wholesale price: $64 ANSWER Percent markup: 85% The retail price is $118.40. for Examples 2 and 3 GUIDED PRACTICE Find the retail price.

  6. 6. Wholesale price: $35 Percent markup: 110% ANSWER The retail price is $73.50. for Examples 2 and 3 GUIDED PRACTICE Find the retail price.

  7. 7. Price: $8.90 Sales tax: 5% ANSWER The total cost is $9.35. for Examples 2 and 3 GUIDED PRACTICE Find the total cost. Round to the nearest cent

  8. 8. Price: $54.07 Sales tax: 7% ANSWER The total cost is $57.85. for Examples 2 and 3 GUIDED PRACTICE Find the total cost. Round to the nearest cent

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