Chapter 6.5, Problem 10IP

To determine

To find: Selling price.

Answer to Problem 10IP

Selling price $=$$\$76.8$

Explanation of Solution

Given information:

Cost price $=\$60$

Markup percent $=28\%$

We know

Selling price $=$ Cost price $+$ Markup

Given

Markup is $28\%$ of cost price that is $\$60$

Therefore,

Markup $=\left(\frac{28}{100}\right)\times 60$

  $\Rightarrow$ Markup $=\left(0.28\right)\times 60$

  $\Rightarrow$ Markup $=16.8$

Therefore,

Selling price $=$$\$60+\$16.8$

  $\Rightarrow$ Selling price $=$$\$76.8$