a store pays $625.98 for a gold ring and marks up the price 44%. what is the new price?
To find the new price, we need to add the markup percentage to the original cost of the gold ring.
First, we calculate the markup amount:
Markup amount = Original cost x Markup percentage
Markup amount = $625.98 x 0.44 = $275.0728
Next, we add the markup amount to the original cost to get the new price:
New price = Original cost + Markup amount
New price = $625.98 + $275.0728 = $901.0528
Rounding to two decimal places, the new price of the gold ring is $901.05.