a store buys jeans for $24 each and marks them up 30%. what is the selling price of a pair of jeans?
24 * 1.3 = ?
To calculate the selling price of a pair of jeans, we first need to find the markup amount, then add it to the cost price.
1. Calculate the markup amount:
Markup = Mark-up percentage × Cost price
The markup percentage is given as 30%, which can be converted to a decimal by dividing by 100: 30/100 = 0.3.
Cost price is given as $24, so the markup amount is: 0.3 × $24 = $7.20
2. Add the markup amount to the cost price:
Selling price = Cost price + Markup amount
Selling price = $24 + $7.20 = $31.20
Therefore, the selling price of a pair of jeans is $31.20.