A store marks up products by 40% from wholesale cost. If they pay $50 for an item, what is the retail price?
Answer
$70
How to solve it
1
Wholesale cost: $50
2
Markup: 40% of $50 = $20
3
Retail price: $50 + $20 = $70
Hints
Calculate 40% of the wholesale cost
Add the markup to the original cost