an item costs a store $25 from the manufacturer. the store plans to mark up the item at 60% of the cost. use…

an item costs a store $25 from the manufacturer. the store plans to mark up the item at 60% 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 $25 from the manufacturer. the store plans to mark up the item at 60% 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 60% of the cost. The cost is $25. So the markup amount $m$ is calculated as $m = 25\times0.6$. $m=25\times0.6 = 15$

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 $c = 25$ and $m = 15$, then $p=25 + 15$. $p=25+15=40$

Answer:

$40.00$