Question

Frankie is a buyer for a department store and is buying some handbags at a cost of $30 from a vendor. He desires to have a 60 percent markup to meet the financial goals of this category. What will be the retail price of these handbags?

Answer 1

Answer:

Retail price will be equal to $48

Explanation:

We have given cost of the handbag = $30

He desires to have a 60 % markup to meet the financial goals

So 60 % of 30 = 18

We have to find the retail price

retail price will be equal to cost of the handbag plus 18

So retail price = $30 + $18 = $48

So retail price will be equal to $48