A sporting goods store pays $120 for a rubber raft. The percent of markup is 45%. Find the raft’s selling price.
$174
$54
$66
$266.67
To find the selling price, we first need to calculate the total markup.
Markup = Cost x Markup Percentage
Markup = $120 x 0.45
Markup = $54
Now, we add the markup to the cost to find the selling price.
Selling Price = Cost + Markup
Selling Price = $120 + $54
Selling Price = $174
Therefore, the selling price of the rubber raft is $174.