A beauty salon buys bottles of styling gel for $4.50 per bottle and marks up the price by 40%. For what price does the salon sell each bottle?
Where did you get the 1.4 from?
140% = 1.4
But it's 40% not 140%.
To determine the selling price, we need to calculate the markup first and then add it to the cost price.
Step 1: Calculate the markup amount.
The markup amount is calculated by multiplying the cost price by the markup percentage. In this case, the markup percentage is 40% (or 0.4).
Markup amount = Cost price * Markup percentage
= $4.50 * 0.4
= $1.80
Step 2: Determine the selling price.
The selling price can be found by adding the markup amount to the cost price.
Selling price = Cost price + Markup amount
= $4.50 + $1.80
= $6.30
Therefore, the salon sells each bottle of styling gel for $6.30.