1. Find the amount of the markup.
EXAMPLE 2
Finding a Retail Price
Clothing
A shirt has a wholesale price of $16. The percent markup is 120%. What is the retail price?
SOLUTION
STEP 1
Find the amount of the markup.
Markup
120% of $16 =
1.2(16) =
Write 120% as a decimal.
19.2 =
Multiply.

2. EXAMPLE 2
Finding a Retail Price
Add the markup to the wholesale price.
STEP 2 16 +
19.2
35.2 =
The retail price of the shirt is $35.20.
ANSWER

3. EXAMPLE 3
Finding a Retail Price
A portable CD player costs $48 before tax. The sales tax is 4.5%. What is the total cost?
CD Player
SOLUTION
STEP 1
Find the amount of the sales tax.
4.5% of $48 =
0.045(48)
2.16
STEP 2
Add the sales tax to the price of the portable CD player.
2.16 + 48 =
50.16

4. EXAMPLE 3
Finding a Retail Price
ANSWER
The total cost of the CD player is $50.16.

5. GUIDED PRACTICE
for Examples 2 and 3
Find the retail price. 5.
Wholesale price: $64
Percent markup: 85%
The retail price is $
ANSWER

6. GUIDED PRACTICE
for Examples 2 and 3
Find the retail price. 6.
Wholesale price: $35
Percent markup: 110%
The retail price is $73.50.
ANSWER

7. GUIDED PRACTICE
for Examples 2 and 3
Find the total cost. Round to the nearest cent 7.
Price: $8.90
Sales tax: 5%
The total cost is $9.35.
ANSWER

8. GUIDED PRACTICE
for Examples 2 and 3
Find the total cost. Round to the nearest cent 8.
Price: $54.07
Sales tax: 7%
The total cost is $57.85.
ANSWER