A sporting goods store pays $120 for a rubber raft. The percent of markup is 45%. Find the raft’s selling price.
$174
$66
$54
$266.67
Markup percentage = (Selling price - Cost price) / Cost price * 100
45% = (Selling price - $120) / $120 * 100
Solving for Selling price:
Selling price = $120 * (1 + 0.45)
Selling price = $120 * 1.45
Selling price = $174
Therefore, the raft's selling price is $174.