Question

Find the selling price,

Cost to store: $90, Mark up: 60%

Answer 1

Hint: To make a profit, store change more than what they pay.

The increase from what the store pays to the selling price is called a markup.

Step 1: Given: Cost to store: $90, Mark up: 60%

Step 2: In order to find the selling price,

We first need to find the mark up price.

In the question Mark up is 60%

Marked price,

$$\begin{gathered} M=60\%of90 \\ M=\frac{60}{100}\times 90 \\ =54 \end{gathered}$$

$SP=CP+M$

$$\begin{gathered} SP=90+54 \\ SP=144 \end{gathered}$$

Hence the selling price is $144