Answer :
To find the retail price of an item that was bought at a wholesale price of [tex]$112 and sold at a 40% markup, you can follow these steps:
1. Understand the markup concept: A markup is an additional amount added to the original price (wholesale price) to determine the selling price (retail price). In this case, the markup is 40% of the wholesale price.
2. Calculate the markup amount:
- First, convert the percentage to a decimal: 40% = 0.40
- Multiply the wholesale price by the markup rate to find the markup amount:
\[
\text{Markup amount} = 0.40 \times 112
\]
3. Add the markup to the wholesale price:
- Add the markup amount to the original wholesale price to get the retail price:
\[
\text{Retail price} = 112 + (0.40 \times 112)
\]
4. Select the correct expression:
- The correct expression to find the retail price is:
\[
\$[/tex] 112 + 0.40(\[tex]$ 112)
\]
This expression correctly adds 40% of the wholesale price ($[/tex]112) to the original amount, resulting in a retail price of $156.8.
1. Understand the markup concept: A markup is an additional amount added to the original price (wholesale price) to determine the selling price (retail price). In this case, the markup is 40% of the wholesale price.
2. Calculate the markup amount:
- First, convert the percentage to a decimal: 40% = 0.40
- Multiply the wholesale price by the markup rate to find the markup amount:
\[
\text{Markup amount} = 0.40 \times 112
\]
3. Add the markup to the wholesale price:
- Add the markup amount to the original wholesale price to get the retail price:
\[
\text{Retail price} = 112 + (0.40 \times 112)
\]
4. Select the correct expression:
- The correct expression to find the retail price is:
\[
\$[/tex] 112 + 0.40(\[tex]$ 112)
\]
This expression correctly adds 40% of the wholesale price ($[/tex]112) to the original amount, resulting in a retail price of $156.8.
