Answer: The mark up amount on suit is $60 and the selling price of suit is $180.
Step-by-step explanation:
Given: The cost price of the suit = $120
The mark up percent on suit = 50 %
Therefore, the mark up amount = 50% of $120
⇒ The mark up amount =[tex]0.5\times120=\$60[/tex]
The mark up amount =$60
Now, the selling price of suit = Cost price +Mark up
The selling price of suit =$120+$60=$180
