A store purchased an item for $50 and wants to mark it up by 30% to determine the selling price. What is the selling price of the item?

A $15.00

B $50.30

C $65.00

D $80.00

✓ Correct Answer: Option C

Calculate the markup amount: 30% of $50 = 0.30 * 50 = $15. Add the markup to the original cost: $50 + $15 = $65.00.

💡 Why is C) the correct answer?

The correct answer to the question "A store purchased an item for $50 and wants to mark it up by 30% to determine the selling price. What is the selling price of the item?" is Option C: $65.00.

The other options — A) $15.00, B) $50.30, D) $80.00 — are incorrect for this GED Exam Prep question. As explained above: Calculate the markup amount: 30% of $50 = 0.30 * 50 = $15. Add the markup to the original cost: $50 + $15 = $65.00.

📚 About This GED Exam Prep Practice Question

This 2-level GED Exam Prep question from the Mathematical Reasoning topic is part of BrainForge Quiz's free exam preparation library. Each question includes the correct answer and a detailed explanation to help you understand the underlying concept, not just memorize the answer.

How to use this page: Read the question above, consider all four options (A through D), then check the highlighted correct answer and explanation. For active timed practice, start a free GED Exam Prep practice test or use flashcards for spaced repetition review.

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A store purchased an item for $50 and wants to mark it up by 30% to determine the selling price. What is the selling price of the item?

✓ Correct Answer: Option C

📚 About This GED Exam Prep Practice Question

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