Unlocking the Secrets of Markup Calculation: How to Determine the Selling Price

What is the markup percentage used to calculate the selling price of a trampoline priced at $145.50?

a) 30%

b) 35%

c) 40%

Answer:

The markup percentage used to calculate the selling price of a trampoline priced at $145.50 is 35%

Markup calculation is an essential aspect of pricing products in the retail industry. When determining the selling price of an item, understanding the markup percentage is crucial.

In this scenario, the trampoline is priced at $145.50, and the markup percentage is given as 35%. You can calculate the markup amount by multiplying the cost ($145.50) by the markup percentage (0.35).

markup amount = $145.50 * 0.35 = $50.925

Once you have calculated the markup amount, you can find the selling price by adding the markup amount to the original cost:

selling price = $145.50 + $50.925 = $196.425

Therefore, the selling price of the trampoline is $196.425, considering the 35% markup percentage applied to the original cost. Remember, the selling price may be subject to rounding during purchase transactions.