A sporting goods store pays $120 for a rubber raft. The percent of markup is 45%. Find the raft’s selling price.

Question

$174

$66

$54

$266.67

Answer 1

Markup percentage = (Selling price - Cost price) / Cost price * 100
45% = (Selling price - $120) / $120 * 100

Solving for Selling price:
Selling price = $120 * (1 + 0.45)
Selling price = $120 * 1.45
Selling price = $174

Therefore, the raft's selling price is $174.