A store pays $47.70 for a fancy watch and marks up the price by 50%. What is the new price?
To calculate the new price after a 50% markup, you need to add 50% of the original price to the original price.
50% of $47.70 = 0.50 * $47.70 = $23.85
New price = $47.70 + $23.85 = $71.55
Therefore, the new price of the fancy watch after a 50% markup is $71.55.