Devin owns a clothing store. He paid $23 for each pair of jeans, and his desired profit margin is 18%. What is Devin's selling price?

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Study for the GMetrix Marketing Test. Prepare with flashcards and multiple-choice questions, each question offers hints and explanations. Ensure success with comprehensive study materials for your exam!

Multiple Choice

Devin owns a clothing store. He paid $23 for each pair of jeans, and his desired profit margin is 18%. What is Devin's selling price?

When a profit margin is described as a markup on cost, you determine the selling price by increasing the cost by that percentage. So for an 18% markup, multiply the cost by 1.18.

Calculate 18% of 23: 0.18 × 23 = 4.14. Add to the cost: 23 + 4.14 = 27.14.

So the selling price is 27.14. This matches the given option that lists 27.14.

Devin owns a clothing store. He paid $23 for each pair of jeans, and his desired profit margin is 18%. What is Devin's selling price?

Study for the GMetrix Marketing Test. Prepare with flashcards and multiple-choice questions, each question offers hints and explanations. Ensure success with comprehensive study materials for your exam!

Devin owns a clothing store. He paid $23 for each pair of jeans, and his desired profit margin is 18%. What is Devin's selling price?

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