A sporting goods store pays $180 for a rubber raft. The percent of markup is 40%. Find the raft’s selling price.
$252
$72
$450
$108
The formula to calculate the selling price given the cost price and markup percentage is:
Selling Price = Cost Price + (Markup Percentage * Cost Price)
In this case, the cost price is $180 and the markup percentage is 40%. Plug these values into the formula:
Selling Price = $180 + (0.40 * $180)
Selling Price = $180 + $72
Selling Price = $252
Therefore, the raft's selling price is $252.