a store pays $625.98 for a gold ring and marks up the price 44%. what is the new price?

Answer 1

To find the new price, we need to add the markup percentage to the original cost of the gold ring.

First, we calculate the markup amount:
Markup amount = Original cost x Markup percentage
Markup amount = $625.98 x 0.44 = $275.0728

Next, we add the markup amount to the original cost to get the new price:
New price = Original cost + Markup amount
New price = $625.98 + $275.0728 = $901.0528

Rounding to two decimal places, the new price of the gold ring is $901.05.