A sporting goods store pays $180 for a rubber raft. The percent of markup is 55%. Find the raft’s selling price.
$99
$279
$81
$327.27
The formula to calculate the selling price with a markup percentage is:
Selling Price = Cost Price + (Markup Percentage * Cost Price)
Given that the cost price is $180 and the markup percentage is 55%, the calculation would be:
Selling Price = $180 + (0.55 * $180)
Selling Price = $180 + $99
Selling Price = $279
Therefore, the selling price of the rubber raft is $279.
So the correct answer is:
$279