If the markup rate for 2 earmuffs is 72%, to calculate the markup, we have to find 72% of the original price, $10.82. "Of" is a word that indicates we must multiply the percent by the price--to do that, we must convert the percent into a decimal, like so:
[tex]72percent = \frac{72}{100} = 0.72[/tex]
Next, multiply the decimal form of 72% by the original cost:
[tex]0.72 * 10.82 = 7.79[/tex]
The markup is $7.79.
To calculate the new price, we have to add the original cost and the markup, like so:
[tex]10.82 + 7.79 = 18.61[/tex]
The new retail price is $18.61.
Hope this helps!
