Asked by Tiffany Santo on Apr 28, 2024

Verified

If a product has a cost of $730 and a markup rate of $$3031 %$ , what is the selling price?

A) $$983.33$

B) $$760.33$

C) $$951.43$

D) $$760.00$

E) $$949.00$

A) $$983.33$

B) $$760.33$

C) $$951.43$

D) $$760.00$

E) $$949.00$

Markup Rate

The percentage increase on the cost price of goods to achieve the selling price.

Selling Price

The amount for which a product or service is sold to the purchaser.

- Execute computations for markup, markdown, discount, and unit pricing in financial literacy environments.

Verified Answer

GP

gianicola perron

May 05, 2024

Final Answer :

C

Explanation :

First, calculate the markup amount:

Markup \% = $$3031 %$ = 0.3

Markup amount = 0.3 x $730 = $219

Then, add the markup amount to the cost to get the selling price:

Selling price = $730 + $219 = $949

Therefore, the correct answer is choice C.

Markup \% = $$3031 %$ = 0.3

Markup amount = 0.3 x $730 = $219

Then, add the markup amount to the cost to get the selling price:

Selling price = $730 + $219 = $949

Therefore, the correct answer is choice C.

## Learning Objectives

- Execute computations for markup, markdown, discount, and unit pricing in financial literacy environments.