Question

2) The local convenience store buys Blueberry Fizz, a cold beverage, in 2-liter plastic bottles for $1.00. They use a 50 percent selling price markup, meaning that consumers pay the store ________Blank per bottle.
Can somebody show how to get $2.00 as the answerThe answer isn't $1.50.

Answer 1

To calculate the selling price based on a 50 percent markup on the cost price, you can follow these steps:

1. **Cost price of the product:** $1.00 (the price the convenience store pays for the Blueberry Fizz).

2. **Markup percentage:** 50%.

3. **Calculate the markup amount:**
\[
\text{Markup Amount} = \text{Cost Price} \times \text{Markup Percentage} = 1.00 \times 0.50 = 0.50
\]

4. **Calculate the selling price:**
\[
\text{Selling Price} = \text{Cost Price} + \text{Markup Amount} = 1.00 + 0.50 = 1.50
\]

However, if the selling price is considered based on a markup on the selling price itself (which is common in retail), you would have to adjust the calculation.

1. If the store sells at a 50% markup on the **selling price**, we can express the markup mathematically. Let \( S \) be the selling price:
\[
\text{Cost Price} = S - (0.50 \times S) \implies \text{Cost Price} = 0.50S
\]

Given that the cost price is $1.00, we set up the equation:
\[
1.00 = 0.50S
\]

2. Solve for \( S \):
\[
S = \frac{1.00}{0.50} = 2.00
\]

Thus, under the assumption that the 50% markup is calculated based on the selling price, the selling price of the Blueberry Fizz is **$2.00**.