Markup means they sell it for that percentage more than they bought it for. First let's calculate how much they will mark it up for:
[tex]\sf 55.25\cdot 87\%[/tex]
Convert 87% into a decimal(87/100):
[tex]\sf 55.25\cdot 0.87[/tex]
Multiply:
[tex]\sf\approx 48[/tex]
This is how much they'll mark it up, now let's add it to how much they bought it for to find out the selling price:
[tex]\sf 48+55.25\approx\boxed{\sf \$ 103}[/tex]
