What is the selling price of a watch that costs $75 and has a 25% markup on selling price?Multiple choice question.$93.75$125$300$100
Question
What is the selling price of a watch that costs 93.75300$100
Solution
To find the selling price of the watch, we need to follow these steps:
- Start with the cost of the watch, which is $75.
- Calculate the markup amount. Since the markup is based on the selling price, let's denote the selling price as 'x'. According to the problem, 25% of the selling price (0.25x) is equal to the markup.
- Since the cost of the watch plus the markup equals the selling price, we can set up the following equation: $75 (cost of the watch) + 0.25x (markup) = x (selling price).
- Solving this equation for 'x' gives us x = 100.
Therefore, the selling price of the watch is $100.
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