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Answer :
Final answer:
To calculate the markup amount, multiply the cost price by the markup percentage. In this case, the store marks up the price by $24.57.
Explanation:
To find the amount of markup, we need to first calculate the markup percentage. Markup is the increase in price from the cost price to the selling price. The markup percentage is given as 50%. To calculate the markup amount, we multiply the cost price by the markup percentage.
Markup amount = Cost price imes rac{Markup percentage}{100}
Markup amount = $49.14 imes rac{50}{100} = $24.57
Therefore, the store marks up the price by $24.57.
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