She bought the handbags for $65 each and includes a 60% markup to get the selling price. What is the selling price for one leather handbag to the nearest dollar

Question

solve with work

Answer 1

Markup is the amount the price is raised over the cost to ensure profit.  Saying that there is a 60% markup means that 60% of the cost is added on.

 

The easiest way to find the percentage of something is to multiply the amount by the decimal version of the percent (move the decimal point two spaces to the left.)  Since 60% = 0.6, the markup would be:

 

$65 x 0.60 = $39.

 

Therefore, the selling price is:

 

$65 + $39 = $104.