Solve.
-Stevie bought a stereo for $300 and put it on sale at his store at a 65% markup rate. What was the retail price of the stereo?
A)$600.00
B)$395.00
C)$400.00
D)$495.00

Question

Quizplus · Accepted Answer

To find the retail price, we need to add the markup to the original price.
Markup = 65% of $300 = 0.65 x $300 = $195
Retail price = Original price + Markup = $300 + $195 = $495 Markup rate = 65%
Cost price = $300
Markup amount = 65% of $300 = $195
Selling price = Cost price + Markup amount
Selling price = $300 + $195 = $495
Therefore, the retail price of the stereo was $495. Option D is the correct answer.

Solve. -Stevie Bought a Stereo for $300 and Put It on on Sale