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Joe owns a dirt bike shop. He bought a dirt bike at cost for $252. If he marks up the price by 60%, what is the retail amount of the bike? (Reminder you are working with money and need to round to 2 decimal places). The amount of Markup is $ . The retail amount is $

Respuesta :

Given:

Cost of bike = $252

Markup % = 60%

To find:

The markup and retail amount.

Solution:

According to the question,

Markup = 60% of cost of bike

[tex]Markup=\dfrac{60}{100}\times 252[/tex]

[tex]Markup=0.6\times 252[/tex]

[tex]Markup=151.2[/tex]

Now,

[tex]\text{Retail amount}=\text{Cost + Markup}[/tex]

[tex]\text{Retail amount}=252+151.2[/tex]

[tex]\text{Retail amount}=403.2[/tex]

Therefore, the amount of Markup is $151.2. The retail amount is $403.2.

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