If an item costs a retailer $75 and the retailer's markup percentage is 30 percent based on cost,what is the retailer's selling price?
A) $22.50
B) $97.50
C) $208.33
D) $283.33
E) Cannot be determined with the information provided.

Question

Quizplus · Accepted Answer

The retailer's markup percentage based on cost is 30%, which means the retailer adds 30% of the cost to the cost price to get the selling price.

Markup = Cost × Markup percentage = 75 × 0.30 = $22.50

Selling price = Cost + Markup = 75 + 22.50 = $97.50

Therefore, the retailer's selling price is $97.50.

If an Item Costs a Retailer $75 and the Retailer's