Asked by yasmine harper on May 31, 2024
Verified
If Clarington Sporting Goods has to pay $88 for a pair of skates and then they apply a mark-up of 40% of cost, what is the selling price?
A) $82
B) $89
C) $123
D) $147
E) $176
Selling Price
The price at which a product or service is sold to the purchaser, often determined by the cost of production, market demand, and competition.
Cost
The amount of money required to purchase something or the expense associated with creating a product or service.
- Learn to evaluate and establish mark-up rates along with selling prices in the context of business.
Verified Answer
GP
gianicola perronJun 06, 2024
Final Answer :
C
Explanation :
The mark-up on the skates is 40% of $88, which is $35.20. Adding this to the original cost ($88 + $35.20), the selling price is $123.20, rounded to $123.
Learning Objectives
- Learn to evaluate and establish mark-up rates along with selling prices in the context of business.