you've just received an order of silk arrangements from your wholesaler, you pd $20.00 each for them, your store uses 10% markup rate, what is the selling price of the silk flower arrangement?
20 * 1.1 = ?
To find the selling price of the silk flower arrangement, we need to add the wholesale cost and the markup amount.
First, let's calculate the markup amount. The markup rate is given as 10%, which means the markup is 10% of the wholesale cost.
Markup amount = Wholesale cost * Markup rate
= $20.00 * 0.10
= $2.00
Now, we can add the markup amount to the wholesale cost to find the selling price.
Selling price = Wholesale cost + Markup amount
= $20.00 + $2.00
= $22.00
Therefore, the selling price of the silk flower arrangement is $22.00.