Algebra 1

Published by Prentice Hall
ISBN 10: 0133500403
ISBN 13: 978-0-13350-040-0

Entry Level Assessment - Multiple Choice: 12

Answer

I) $220.50

Work Step by Step

The way markups work is that the markup rate is added to the original price. As shown below, the markup rate for a 70 USD ring is 215%. That would add on 150.50 USD. However, the product is asking for the selling price, not how much is being added on. Therefore, the 150.50 USD would be added to the original price of 70 USD, giving you 220.50 USD. $70\times2.15$ $150.50$ $70+150.50$ $220.50$
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