An import/export business marks up imported merchandise by 125% . If a wicker chair imported from Singapore originally costs $99 from the manufacturer, what is the retail price?
To find the retail price, we need to calculate the markup amount and then add it to the original cost.
The markup amount is calculated by multiplying the original cost by the markup percentage (125%).
Markup amount = $99 * (125/100) = $123.75
To find the retail price, we add the markup amount to the original cost:
Retail price = $99 + $123.75 = $222.75
Therefore, the retail price of the wicker chair is $222.75.