4. the markup on a bicycle in a sporting goods store is 125%. the bicycles wholesale price is $450.00. what…

4. the markup on a bicycle in a sporting goods store is 125%. the bicycles wholesale price is $450.00. what is the markup in dollars?

4. the markup on a bicycle in a sporting goods store is 125%. the bicycles wholesale price is $450.00. what is the markup in dollars?

Answer

Explanation:

Step1: Recall markup formula

Markup amount = Wholesale price × Markup percentage

Step2: Convert percentage to decimal

125% = 1.25

Step3: Calculate markup amount

Markup amount = 450×1.25 = 562.5

Answer:

$562.50$