Solve the problem.
-Stevie bought a stereo for $265 and put it on sale at his store at a 50% (or 0.5)markup rate. What was the retail price of the stereo?
A)$530.00
B)$397.50
C)$297.50
D)$365.00

Question

Quizplus · Accepted Answer

To find the retail price of the stereo, we need to add the markup to the cost price:

Markup = 50% of $265 = 0.5 x $265 = $132.50

Retail price = Cost price + Markup = $265 + $132.50 = $397.50

Therefore, the retail price of the stereo was $397.50, which is option B. The markup rate is 50% of the original price, which means it is half of the original price. So, the cost price of the stereo for Stevie was $265. To find the retail price, we need to add the markup or 50% of the cost price to the cost price.
Markup = 0.5 x 265 = $132.5
Retail price = Cost price + Markup = $265 + $132.5 = $397.5
Therefore, the retail price of the stereo was $397.50, which is option B.

Solve the Problem. -Stevie Bought a Stereo for $265 and Put It on Put