Question

A candy bar cost the store $0.79. Find the price of the candy bar if it is sold with a 65% mark up.
Responses

$1.58

$1.58

$1.31

$1.31

$1.17

$1.17

$1.44

$1.44

Answer 1

To find the selling price of the candy bar with a 65% markup on the cost, you can use the following formula:

\[
\text{Selling Price} = \text{Cost} + (\text{Markup Percentage} \times \text{Cost})
\]

In this case, the cost of the candy bar is $0.79 and the markup percentage is 65%, or 0.65 when expressed as a decimal.

\[
\text{Selling Price} = 0.79 + (0.65 \times 0.79)
\]

First, calculate the markup:

\[
0.65 \times 0.79 = 0.5145
\]

Now, add this markup to the cost:

\[
\text{Selling Price} = 0.79 + 0.5145 = 1.3045
\]

Rounding this to two decimal places, the selling price is approximately **$1.30**.

Now let's compare the options:

- $1.58
- $1.31
- $1.17
- $1.44

The closest option to our calculated selling price of $1.30 is **$1.31**.

So, the selling price of the candy bar is **$1.31**.