A sporting goods store pays $170 for a rubber raft. The percent of markup is 45%. Find the raft’s selling price.
$93.50
$76.50
$246.50
$377.78
To find the selling price of the raft, we need to calculate the markup amount first.
Markup = Cost price x (Markup percent / 100)
Markup = $170 x (45/100) = $76.50
Then, the selling price of the raft can be found by adding the markup amount to the cost price.
Selling Price = Cost price + Markup
Selling Price = $170 + $76.50 = $246.50
Therefore, the raft's selling price is $246.50.
So, the correct answer is:
$246.50