Solved on Feb 08, 2024

Find the retail price of a pillow marked up by 80% from its $\$ 7.50$ wholesale price.

STEP 1

Assumptions
1. The wholesale price of the pillow is $7.50.
2. The markup percentage is 80%.

STEP 2

First, we need to calculate the markup amount. This is done by multiplying the wholesale price by the markup percentage.
$Markup\, amount = Wholesale\, price \times Markup\, percentage$

STEP 3

Now, plug in the given values for the wholesale price and markup percentage to calculate the markup amount.
$Markup\, amount = \$7.50 \times 80\%$

STEP 4

Convert the percentage to a decimal value.
$80\% = 0.8$
$Markup\, amount = \$7.50 \times 0.8$

STEP 5

Calculate the markup amount.
$Markup\, amount = \$7.50 \times 0.8 = \$6.00$

STEP 6

Now that we have the markup amount, we can find the retail price of the pillow in the department store. This is the sum of the wholesale price and the markup amount.
$Retail\, price = Wholesale\, price + Markup\, amount$

STEP 7

Plug in the values for the wholesale price and the markup amount to calculate the retail price.
$Retail\, price = \$7.50 + \$6.00$

STEP 8

Calculate the retail price of the pillow.
$Retail\, price = \$7.50 + \$6.00 = \$13.50$
The price of the pillow in the department store is $13.50.

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Find the retail price of a pillow marked up by 80% from its $\$ 7.50$ wholesale price.

STEP 1

Assumptions
1. The wholesale price of the pillow is $7.50.
2. The markup percentage is 80%.

STEP 2

First, we need to calculate the markup amount. This is done by multiplying the wholesale price by the markup percentage.
$Markup\, amount = Wholesale\, price \times Markup\, percentage$

STEP 3

Now, plug in the given values for the wholesale price and markup percentage to calculate the markup amount.
$Markup\, amount = \$7.50 \times 80\%$

STEP 4

Convert the percentage to a decimal value.
$80\% = 0.8$
$Markup\, amount = \$7.50 \times 0.8$

STEP 5

Calculate the markup amount.
$Markup\, amount = \$7.50 \times 0.8 = \$6.00$

STEP 6

Now that we have the markup amount, we can find the retail price of the pillow in the department store. This is the sum of the wholesale price and the markup amount.
$Retail\, price = Wholesale\, price + Markup\, amount$

STEP 7

Plug in the values for the wholesale price and the markup amount to calculate the retail price.
$Retail\, price = \$7.50 + \$6.00$

STEP 8

Calculate the retail price of the pillow.
$Retail\, price = \$7.50 + \$6.00 = \$13.50$
The price of the pillow in the department store is $13.50.

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Find the retail price of a pillow marked up by 80% from its $7.50\$ 7.50$7.50 wholesale price.

STEP 1

Assumptions1. The wholesale price of the pillow is $7.50.2. The markup percentage is 80%.

STEP 2

First, we need to calculate the markup amount. This is done by multiplying the wholesale price by the markup percentage.Markup amount=Wholesale price×Markup percentageMarkup\, amount = Wholesale\, price \times Markup\, percentageMarkupamount=Wholesaleprice×Markuppercentage

STEP 3

Now, plug in the given values for the wholesale price and markup percentage to calculate the markup amount.Markup amount=$7.50×80%Markup\, amount = \$7.50 \times 80\%Markupamount=$7.50×80%

STEP 4

Convert the percentage to a decimal value.80%=0.880\% = 0.880%=0.8Markup amount=$7.50×0.8Markup\, amount = \$7.50 \times 0.8Markupamount=$7.50×0.8

STEP 5

Calculate the markup amount.Markup amount=$7.50×0.8=$6.00Markup\, amount = \$7.50 \times 0.8 = \$6.00Markupamount=$7.50×0.8=$6.00

STEP 6

Now that we have the markup amount, we can find the retail price of the pillow in the department store. This is the sum of the wholesale price and the markup amount.Retail price=Wholesale price+Markup amountRetail\, price = Wholesale\, price + Markup\, amountRetailprice=Wholesaleprice+Markupamount

STEP 7

Plug in the values for the wholesale price and the markup amount to calculate the retail price.Retail price=$7.50+$6.00Retail\, price = \$7.50 + \$6.00Retailprice=$7.50+$6.00

STEP 8

Calculate the retail price of the pillow.Retail price=$7.50+$6.00=$13.50Retail\, price = \$7.50 + \$6.00 = \$13.50Retailprice=$7.50+$6.00=$13.50The price of the pillow in the department store is $13.50.

Start learning now

Download Studdy AI Tutor now. Learn with ease and get all help you need to be successful at school.

Find the retail price of a pillow marked up by 80% from its $\$ 7.50$ wholesale price.

Assumptions
1. The wholesale price of the pillow is $7.50.
2. The markup percentage is 80%.

First, we need to calculate the markup amount. This is done by multiplying the wholesale price by the markup percentage.
$Markup\, amount = Wholesale\, price \times Markup\, percentage$

Now, plug in the given values for the wholesale price and markup percentage to calculate the markup amount.
$Markup\, amount = \$7.50 \times 80\%$

Convert the percentage to a decimal value.
$80\% = 0.8$
$Markup\, amount = \$7.50 \times 0.8$

Calculate the markup amount.
$Markup\, amount = \$7.50 \times 0.8 = \$6.00$

Now that we have the markup amount, we can find the retail price of the pillow in the department store. This is the sum of the wholesale price and the markup amount.
$Retail\, price = Wholesale\, price + Markup\, amount$

Plug in the values for the wholesale price and the markup amount to calculate the retail price.
$Retail\, price = \$7.50 + \$6.00$

Calculate the retail price of the pillow.
$Retail\, price = \$7.50 + \$6.00 = \$13.50$
The price of the pillow in the department store is $13.50.