A jewelry store uses a markup rate of 70% on all items. If the wholesale price of a pair of earrings is $15.00, what is the retail price for the earrings?
15 * 1.7 = ?
On Math help please it 25.5 i think sorry if i got you wrong
To find the retail price of the earrings, we can use the formula:
Retail Price = Wholesale Price + Markup
First, we need to calculate the markup amount. The markup rate is 70%, so we can find it by multiplying the wholesale price by 70%:
Markup = Wholesale Price * Markup Rate
Markup = $15.00 * 0.70
Markup = $10.50
Now, we can find the retail price by adding the markup amount to the wholesale price:
Retail Price = Wholesale Price + Markup
Retail Price = $15.00 + $10.50
Retail Price = $25.50
Therefore, the retail price of the earrings is $25.50.