Find the selling price. A store pays $3 for a magazine. The markup is 5%. What’s The selling price?
Mathematics · Middle School · Tue Nov 03 2020
Answered on
Answer is $3.15.
To solve this, we need to find the value of the markup percentage in decimal form and add it to the selling price in order to get the final price.
It states that $3 is the initial selling price while 5% is the markup percentage. Multiply 3 by 5%. 5% is 0.05 in decimal form. Multiplied by 3 is 0.15.
Add the initial selling price of $3 and the markup price of 0.15 cents to get the selling price. Therefore, $3.15 is the final selling price.