Answer:
$65.
Step-by-step explanation:
Given:
The Store's wholesale price of a t-shirt is $50
The markup set by the store is 30%.
To find:
Calculate the retail price set by the store on the t-shirt.
Solution:
Wholesale price of a t-shirt = $50
Markup % = 30
First of all we will find the markup value with the help of markup percentage and then we will simply add the wholesale price and markup value of T-shirt.
Markup value of T-shirt = [tex]30\%\ 0f\ 50=\frac{30}{100} \times50=\frac{1500}{100} =\$15[/tex]
Retail price of T-shirt = Wholesale price of a t-shirt + Markup value of T-shirt
Retail price of T-shirt = $50 + $15
Retail price of T-shirt = $65
Therefore, the retail price set by the store on the t-shirt is $65.
