sellingAnswer:
16.4325
Explanation:
We are told that the markup rate of the store is 5%, meaning that when it sells its product, it charges an additional extra 5% to the customers.
Now, we know the wholesale price of the wine is $15. 65, adding another 5% gives us the sell price
[tex]price=5\%+\$15.65[/tex]now 5% of 15.65 is
[tex]15.65\times\frac{5}{100}=0.7825[/tex]therefore
[tex]\begin{gathered} price=5\%+\$15.65 \\ price=0.7825+\$15.65 \end{gathered}[/tex][tex]price=\$16.4325[/tex]Hence, the shop charges $16.4325 for the wine bottle.
