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A retailer marks a product 40% above the cost price. If the cost price is $50, w

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Question: A retailer marks a product 40% above the cost price. If the cost price is $50, what is the marked price?

Options:

  1. $60
  2. $70
  3. $80
  4. $90

Correct Answer: $80

Solution: 

Marked Price = Cost Price + 40% of Cost Price = 50 + 0.40 * 50 = 50 + 20 = 70.

A retailer marks a product 40% above the cost price. If the cost price is $50, w

Practice Questions

Q1
A retailer marks a product 40% above the cost price. If the cost price is $50, what is the marked price?
  1. $60
  2. $70
  3. $80
  4. $90

Questions & Step-by-Step Solutions

A retailer marks a product 40% above the cost price. If the cost price is $50, what is the marked price?
  • Step 1: Identify the cost price of the product, which is given as $50.
  • Step 2: Calculate 40% of the cost price. To do this, multiply the cost price by 0.40: 0.40 * 50.
  • Step 3: Perform the multiplication: 0.40 * 50 = 20.
  • Step 4: Add the result from Step 3 to the original cost price to find the marked price: 50 + 20.
  • Step 5: Perform the addition: 50 + 20 = 70.
  • Step 6: Conclude that the marked price is $70.
  • Percentage Increase – Understanding how to calculate a percentage increase on a given value.
  • Cost Price and Marked Price – Differentiating between cost price and marked price in retail pricing.
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