an item costs a store $12 from the manufacturer. the store plans to mark up the item at 70% of the cost. use…

an item costs a store $12 from the manufacturer. the store plans to mark up the item at 70% of the cost. use this information to calculate the sticker price the store should sell the item for. $?

an item costs a store $12 from the manufacturer. the store plans to mark up the item at 70% of the cost. use this information to calculate the sticker price the store should sell the item for. $?

Answer

Explanation:

Step1: Calculate the markup amount

Markup amount = Cost × Mark - up percentage. Given cost = $12 and mark - up percentage = 70%=0.7. So, Markup amount = $12×0.7 = $8.4.

Step2: Calculate the sticker price

Sticker price = Cost+Markup amount. Cost = $12 and Markup amount = $8.4. So, Sticker price = $12 + $8.4=$20.4.

Answer:

$20.4