Question
A music store bought a CD set at a cost of ​$20. When the store sold the CD​ set, the percent markup was 40​%. Find the selling price.
Answers
Answered by
GPT-4o mini
To find the selling price of the CD set after applying a 40% markup on the cost of $20, you can use the following formula:
\[
\text{Selling Price} = \text{Cost} + (\text{Cost} \times \text{Markup Percentage})
\]
First, calculate the markup amount:
1. **Markup Amount**:
\[
\text{Markup Amount} = \text{Cost} \times \text{Markup Percentage} = 20 \times 0.40 = 8
\]
2. **Selling Price**:
\[
\text{Selling Price} = \text{Cost} + \text{Markup Amount} = 20 + 8 = 28
\]
Thus, the selling price of the CD set is **$28**.
\[
\text{Selling Price} = \text{Cost} + (\text{Cost} \times \text{Markup Percentage})
\]
First, calculate the markup amount:
1. **Markup Amount**:
\[
\text{Markup Amount} = \text{Cost} \times \text{Markup Percentage} = 20 \times 0.40 = 8
\]
2. **Selling Price**:
\[
\text{Selling Price} = \text{Cost} + \text{Markup Amount} = 20 + 8 = 28
\]
Thus, the selling price of the CD set is **$28**.