Tick Tock, a small retailer of a quality alarm clock, sells its product based on a 35 percent markup of cost. If the firm's product costs are approximately $133, what is the selling price?
A) $138
B) $198
C) $180
D) $289

Question

Quizplus · Accepted Answer

Markup percent = (selling price - cost)/cost * 100%
35% = (selling price - $133)/$133 * 100%
Solving for selling price, we get:
selling price = $180.55
Rounding to the nearest dollar gives us a selling price of $180. Therefore, the best choice is (C).

Tick Tock, a Small Retailer of a Quality Alarm Clock