Wilson sells a basketball to a wholesaler for $16,and the wholesaler applies a 20 percent markup.A retailer then applies a 33.3 percent markup.The final selling price is
A)$24.53.
B)$30.00.
C)$25.59.
D)$28.00.
E)The final selling price cannot be determined from the information provided.

Question

Quizplus · Accepted Answer

A producer's selling price becomes the cost the wholesaler pays.The wholesaler's selling price becomes the retailer's cost.And this cost plus a retail markup becomes the retail selling price.Each markup should cover the costs of running the business and leave a profit.

Wilson Sells a Basketball to a Wholesaler for $16,and the Wholesaler