Question

cost of a sweater is $33.95 and the markup is 70%What is the selling price?

Answer 1

The cost of the sweater is $33.95.

The markup is 70%.

We are asked to find the selling price

The selling price can be found using

$SP=CP\times\frac{(100\%+MP)}{100}$

Where CP is the cost price, MP is the markup percentage, and SP is the selling price.

Let us substitute the given values

$\begin{gathered} SP=33.95\times\frac{(100+70)}{100} \\ SP=33.95\times\frac{170}{100} \\ SP=\ 57.715 \end{gathered}$

Therefore, the selling price of the sweater is $57.715