A gift shop buys greeting cards at $3.50 each, and sells them at an 80% markup. At what price does the gift shop sell each greeting card?
3.50 x 0.8 = 2.8
Subtract 3.50-2.80= .7
Each greeting card cost .70 cents
Because 80% in decimal form = 0.8
Hi get going on ur math!! Get off of ur phone looking for answers!!
0.8 (I have the answer key)
3.50 * 1.80 = 6.30
To find the selling price of each greeting card, we need to add the markup to the cost price.
Step 1: Calculate the markup amount.
The markup is given as 80% of the cost price, which means the gift shop is adding 80% of $3.50 to each card.
Markup = 80% of $3.50 = (80/100) * $3.50
Step 2: Add the markup to the cost price to determine the selling price.
Selling Price = Cost Price + Markup
Selling Price = $3.50 + Markup
Now, let's calculate the markup amount and find the selling price.
Markup = (80/100) * $3.50 = 0.8 * $3.50
= $2.80
Selling Price = $3.50 + $2.80
= $6.30
Therefore, the gift shop sells each greeting card at a price of $6.30.