Question

The local grocery store will purchase food items and mark them up 115%. If the wholesale price of an item was $3.50, what price will the customer pay for the item?

Answer 1

Answer:

5

Step-by-step explanation:

Answer 2

The customer paid $7.53 for the item

Markup is the difference between a product's selling price and cost as a percentage of the cost. It is given by:

$Markup=\frac{selling\ price-cost\ price}{cost\ price}$

Markup = 115% = 1.15, cost price = $3.50, hence:

$Markup=\frac{selling\ price-cost\ price}{cost\ price} \\\\1.15=\frac{selling\ price-3.5}{3.5} \\\\Selling\ price=\ 7.53$

Hence the customer paid $7.53 for the item.

Find out more at: https://brainly.com/question/20548779