Question

the original price of an item is p dollars. is the price of the item with an 18% markup the same as multiplying the originaal price by 1.18?if yes use two expressions to justify your answer.

Answer 1

Answer:

• Yes

,

• p+0.18p

,

• 1.18p

Explanation:

Let the original price of the item = p dollars.

If there is an 18% markup, the new price of the item will be:

$\begin{gathered} \text{New Price}=p+(18\%\text{ of p)} \\ =p+(\frac{18}{100}\times p) \\ =p+0.18p \\ =1.18p \end{gathered}$

Yes, the price of the item with an 18% markup is the same as multiplying the original price by 1.18.