Answer:
Retail price = $75
Step-by-step explanation:
1. State the given
The price of the vacuum cleaner's wholesale; $50.
The rate of mark up that the vacuum cleaner is sold at; 50%.
This means that the vacuum cleaner's sales price is 1.5 times the price of its wholesale.
2. Form am equation and solve
Use the equation:
wholesale_price * markup = retail_price
Now use the given information
50 * 1.5 = retail price
Solve
50 * 1.5 = 75
retail price = $75
