Bloomingdales purchases imported perfume for $24.30 per ounce. If the store policy's to mark up all merchadise in that department 39% based on selling price, what is the retail selling price of the perfume?
24.3 * 1.39 = ?
To find the retail selling price of the perfume, we need to add the markup percentage to the cost price.
Step 1: Calculate the markup amount:
Markup = Markup percentage * Cost price
Markup = 39/100 * $24.30
Step 2: Add the markup amount to the cost price to find the retail selling price:
Retail selling price = Cost price + Markup
Retail selling price = $24.30 + Markup
Let's calculate the markup amount first:
Markup = 39/100 * $24.30
Markup = $9.48
Now, let's find the retail selling price:
Retail selling price = $24.30 + $9.48
Retail selling price = $33.78
Therefore, the retail selling price of the perfume is $33.78.