A store marks up items by 40%. If an item costs the store $50, what is the selling price?
Answer
$70
How to solve it
1
Cost to store: $50
2
Markup: 40% of $50 = $20
3
Selling price: $50 + $20 = $70
Hints
Calculate 40% of the cost
What does markup mean?
Add markup to the original cost