Quandaries
and Queries
The retail price of a car stereo is $265 and the markup rate is 68%. What is the wholesale price of the car stereo to the nearest dollar.
Cassie
Secondary
Teacher
Hi Cassie,
Markup is a percentage of the retail price. Thus you want to add, to the retail price, 68% of the retain price.
68% of $265 is 68/100
$265 = $180.20
Thus the wholesale price is
$265 + $180.20 = $445.20
Penny
