error analysis a store is instructed by corporate headquarters to put a markup of 25% on all items. an item…

error analysis a store is instructed by corporate headquarters to put a markup of 25% on all items. an item costing $8 is displayed by the store manager at a selling price of $2. as an employee, you notice that this selling price is incorrect. find the correct selling price. what was the managers likely error? the correct selling price is $ (round to the nearest dollar as needed.)

error analysis a store is instructed by corporate headquarters to put a markup of 25% on all items. an item costing $8 is displayed by the store manager at a selling price of $2. as an employee, you notice that this selling price is incorrect. find the correct selling price. what was the managers likely error? the correct selling price is $ (round to the nearest dollar as needed.)

Answer

Explanation:

Step1: Calculate the markup amount

The cost of the item is $C = 8$ and the markup percentage is $r=25%=0.25$. The markup amount $M$ is calculated by the formula $M = C\times r$. So, $M=8\times0.25 = 2$.

Step2: Calculate the selling price

The selling price $S$ is the sum of the cost and the markup, i.e., $S=C + M$. Substituting the values of $C = 8$ and $M = 2$, we get $S=8 + 2=10$.

Answer:

10