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Answer :
To find the retail price of an item that was bought at wholesale for [tex]$112 and sold with a 40% markup, you can follow these steps:
1. Understand the Markup Concept:
A 40% markup means that the selling price of the item is increased by 40% over its wholesale cost. This is a common practice to make a profit.
2. Convert the Percentage to Decimal:
The markup percentage of 40% can be converted to a decimal for calculation purposes. To do this, divide the percentage by 100:
\[
40\% = \frac{40}{100} = 0.40
\]
3. Calculate the Markup Amount:
Multiply the wholesale price by the markup decimal to find out how much money will be added to the wholesale price. In this case, the wholesale price is $[/tex]112:
[tex]\[
\text{Markup Amount} = \$112 \times 0.40 = \$44.80
\][/tex]
4. Calculate the Retail Price:
Add the markup amount to the wholesale price to determine the retail price of the item:
[tex]\[
\text{Retail Price} = \$112 + \$44.80 = \$156.80
\][/tex]
5. Match the Correct Expression:
The expression that represents this calculation is:
[tex]\[
\$112 + 0.40(\$112)
\][/tex]
So, the answer is the expression [tex]\(\$112 + 0.40(\$112)\)[/tex] which corresponds to the option that correctly calculates the retail price with a 40% markup on the wholesale cost.
1. Understand the Markup Concept:
A 40% markup means that the selling price of the item is increased by 40% over its wholesale cost. This is a common practice to make a profit.
2. Convert the Percentage to Decimal:
The markup percentage of 40% can be converted to a decimal for calculation purposes. To do this, divide the percentage by 100:
\[
40\% = \frac{40}{100} = 0.40
\]
3. Calculate the Markup Amount:
Multiply the wholesale price by the markup decimal to find out how much money will be added to the wholesale price. In this case, the wholesale price is $[/tex]112:
[tex]\[
\text{Markup Amount} = \$112 \times 0.40 = \$44.80
\][/tex]
4. Calculate the Retail Price:
Add the markup amount to the wholesale price to determine the retail price of the item:
[tex]\[
\text{Retail Price} = \$112 + \$44.80 = \$156.80
\][/tex]
5. Match the Correct Expression:
The expression that represents this calculation is:
[tex]\[
\$112 + 0.40(\$112)
\][/tex]
So, the answer is the expression [tex]\(\$112 + 0.40(\$112)\)[/tex] which corresponds to the option that correctly calculates the retail price with a 40% markup on the wholesale cost.
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