Answer:
$41.25
Step-by-step explanation:
recall that the formula for percent markup is
% Markup = [ (price - cost) / cost ] x 100% (also see attached for reference)
we are given:
% Markup = 65%
Cost = $25
Simply substitute the known values into the formula above
% Markup = [ (price - cost) / cost ] x 100%
65 = [ (price - 25) / 25] x 100
65/100 = (price - 25) / 25
0.65 = (price - 25 ) / 25
0.65 (25) = price - 25
price - 25 = 16.25
price = 25 + 16.25
price = $41.25
