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.

Answer 1

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.