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Find the markup and the selling price of the following item. Round answers to the nearest cent. A chemistry set costing $38.50, marked up 32% on cost. Markup = ? Selling price = ?

Answer :

In order to compute the markup, compute the percentage like this:
[tex]38.50\times0. 32=12,32[/tex]
The markup is then $12,32.
The selling price is the sum of the cost and the markup:
[tex]38.50+12,32=50,82[/tex]

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