The cost of a TV to Leons is $377.00. If Leons wants a 30% rate of markup on the selling price, determine the markup.

Question

Quizplus · Accepted Answer

To find the markup, we need to use the formula:
Markup = Cost x Rate of Markup
where Rate of Markup is given as 30%, which means 0.30 in decimal form.
So, Markup = $377.00 x 0.30 = $113.10
Therefore, the markup is $113.10, which means the selling price of the TV will be:
Selling Price = Cost + Markup = $377.00 + $113.10 = $490.10
Hence, the correct answer is B).

The Cost of a TV to Leons Is $377