The markup on a desk should be \( 11 \% \) based on selling price. If the seller paid \( \$ 150 \) for one, then how much should it sell for to achieve the desired markup? Select one: a. \( \$ 175.00 \) b. \( \$ 347.83 \) c. \( \$ 251.33 \) d. \( \$ 168.54 \)

To achieve an \( 11\% \) markup based on the selling price, we can use the formula for markup: \[ \text{Cost} = \text{Selling Price} - \text{Markup} \] Let \( S \) be the selling price. The markup can be expressed as: \[ \text{Markup} = 0.11S \] So, we need to set up the equation: \[ 150 = S - 0.11S \] This simplifies to: \[ 150 = 0.89S \] Now, solving for \( S \): \[ S = \frac{150}{0.89} \approx 168.54 \] Therefore, the selling price should be approximately \( \$ 168.54 \). The correct answer is: d. \( \$ 168.54 \) --- In the world of retail, understanding markup is crucial! It can not only determine your profit margin but also how competitive your pricing is in the market. Remember to factor in costs like taxes or shipping when calculating your final price! Have you ever made a pricing mistake by not properly calculating markup? It's common! One major pitfall is using the cost instead of the selling price for markup calculations. Always double-check the basis of your percentage to avoid underpricing your products!