The owner of a music store received a shipment of stereos at a cost of $160.00 each.
What will the selling price be if he applies a 45% markup?
Recall that the selling price is given by
[tex]S=C+M[/tex]Where C is the cost and M is the markup.
Let us first find the markup
The markup is found by multiplying the markup percentage with the cost
[tex]\begin{gathered} M=0.45\times\$160 \\ M=\$72 \end{gathered}[/tex]Now we can find the selling price
[tex]\begin{gathered} S=C+M \\ S=\$160+\$72 \\ S=\$232 \end{gathered}[/tex]So option C is correct.
Therefore, the selling price is $232
