Markup (or price spread) is the difference between the selling price of a good or service and cost. It is often expressed as a percentage over the cost.
Given:
cost = $9.00
percent markup = 30%
Let the selling price be x
The formula form percent markup is:
[tex]\text{ \% markup = }\frac{\text{ Selling price - cost}}{\cos t}\text{ }\times\text{ 100 \%}[/tex]Substituting we have;
[tex]30\text{ = }\frac{x\text{ - 9}}{9}\text{ }\times100[/tex]Solving for x:
[tex]\begin{gathered} \text{x - 9 = 2.7} \\ x\text{ = 11.7} \end{gathered}[/tex]Hence, the selling price is $11.7
Answer: $11.7
