Answer
Find out the markup and the selling price of the item.
To prove
As given
suit costing $120.00 marked up 50% on cost.
50% is written in the decimal form
[tex]= \frac{50}{100}[/tex]
= 0.50
Markup price (M) = 0.50 × 120.00
= 0.50 × 120
= $60
As 1 dollar = 100 cent
Markup price in cent (M) = 60 × 100
= 6000 cent
Selling price (S) = Suit price + Markup price
= 120 + 60
= $180
Selling price in cent = 180 × 100
= 18000 cent
Therefore the markup price (M) is 6000 cent and the selling price is 18000 cent .
