A sporting goods store pays $170 for a rubber raft. The percent of markup is 45%. Find the raft’s selling price.

Question

$93.50

$76.50

$246.50

$377.78

Answer 1

To find the selling price of the raft, we need to calculate the markup amount first.

Markup = Cost price x (Markup percent / 100)
Markup = $170 x (45/100) = $76.50

Then, the selling price of the raft can be found by adding the markup amount to the cost price.

Selling Price = Cost price + Markup
Selling Price = $170 + $76.50 = $246.50

Therefore, the raft's selling price is $246.50.

So, the correct answer is:

$246.50