A music store bought a CD set at a cost of ​$20. When the store sold the CD​ set, the percent markup was 20​%. Find the selling price.

Answer 1

To find the selling price with a markup, you can use the following formula:

\[ \text{Selling Price} = \text{Cost} + \text{Markup} \]

First, calculate the markup amount:

\[ \text{Markup} = \text{Cost} \times \left(\frac{\text{Percent Markup}}{100}\right) \] \[ \text{Markup} = 20 \times \left(\frac{20}{100}\right) = 20 \times 0.20 = 4 \]

Now, add the markup to the original cost to find the selling price:

\[ \text{Selling Price} = \text{Cost} + \text{Markup} = 20 + 4 = 24 \]

Thus, the selling price of the CD set is $24.