(a) The amount of markup is $7.20.
(b) The list price is $23.20.
Step-by-step explanation:
Step 1:
The markup price is the price by which a seller has increased the product's price. The markup price is the difference between the selling price and the buying price.
Darla marked the price up 45%, so we need to determine how much 45% of $16 is.
45% of $16 = [tex]\frac{45}{100} (16)= 0.45 (16) = 7.20.[/tex]
So she increased the price by $7.20.
Step 2:
The price at which she has listed the bracelet is the sum of the buying price and the markup price.
The list price = The buying cost + the markup cost = $16 + $7.2 = $23.20.
