Bloomingdale’s purchases imported perfume for $24.30 per ounce. If the store policy is to mark up all merchandise in that department 39% based on selling price, what is the retail selling price of the perfume?
I assuming it's saying what do they sell it at, when they markup the cost they paid for it by 39%.
If that's the case $24.30*1.39=$33.78/oz
Nope, got that answer and it was wrong. this got me very puzzled on this problem.
i no
To find the retail selling price of the perfume, we need to consider the markup percentage and the cost price of the perfume.
First, we calculate the markup amount by multiplying the cost price by the markup percentage:
Markup amount = Cost price * Markup percentage
= $24.30 * 0.39
Next, we add the calculated markup amount to the cost price to get the selling price:
Selling price = Cost price + Markup amount
Therefore, the retail selling price of the imported perfume at Bloomingdale's is:
Retail selling price = $24.30 + ($24.30 * 0.39)