an item costs a store $8 from the manufacturer. the store plans to mark up the item at 70% of the cost. use…

an item costs a store $8 from the manufacturer. the store plans to mark up the item at 70% of the cost. use this information to calculate the sticker price the store should sell the item for.\n$?\nround to the nearest cent.

an item costs a store $8 from the manufacturer. the store plans to mark up the item at 70% of the cost. use this information to calculate the sticker price the store should sell the item for.\n$?\nround to the nearest cent.

Answer

Explanation:

Step1: Calculate the markup amount

The markup is 70% of the cost. The cost is $8. So the markup amount $m$ is $m = 8\times0.70$. $m=8\times0.70 = 5.6$

Step2: Calculate the sticker - price

The sticker - price $p$ is the sum of the cost $c$ and the markup amount $m$. So $p=c + m$. Here, $c = 8$ and $m = 5.6$. $p=8 + 5.6=13.6$

Answer:

$13.60$