an item costs a store $15 from the manufacturer. the store plans to mark up the item at 80% of the cost. use…

an item costs a store $15 from the manufacturer. the store plans to mark up the item at 80% of the cost. use this information to calculate the sticker price the store should sell the item for. $? round to the nearest cent.

an item costs a store $15 from the manufacturer. the store plans to mark up the item at 80% of the cost. use this information to calculate the sticker price the store should sell the item for. $? round to the nearest cent.

Answer

Explanation:

Step1: Calculate the markup amount

The markup is 80% of the cost. The cost is $15. So the markup amount $m$ is $m = 0.8\times15$. $m=0.8\times15 = 12$

Step2: Calculate the sticker - price

The sticker - price $p$ is the sum of the cost $c$ and the markup amount $m$. So $p=c + m$. Since $c = 15$ and $m = 12$, then $p=15 + 12$. $p=15+12=27$

Answer:

$27.00$