an item costs a store $20 from the manufacturer. the store plans to mark up the item at 70% of the cost. use…

an item costs a store $20 from the manufacturer. the store plans to mark up the item at 70% of the cost. use this information to determine the sticker price the store should sell the item for. $? round to the nearest cent

an item costs a store $20 from the manufacturer. the store plans to mark up the item at 70% of the cost. use this information to determine 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 70% of the cost. The cost is $20. So the markup amount $m$ is $m = 20\times0.7$. $m=20\times0.7 = 14$

Step2: Calculate the sticker - price

The sticker - price $p$ is the sum of the cost and the markup. So $p=20 + m$. $p=20+14=34$

Answer:

$34.00$