Answer:$37.50
Step-by-step explanation:
1.Given:
Retail Price = $60
Markup Percentage = 60%
2. Substitute the values into the formula:
Calculate the markup percentage in decimal form:
Markup precentage= 60/100=0.60
4. Calculate the wholesale price:
Wholesale price= 60/1+0.60
Wholesale price=60/1.60
Wholesale price=$37.50
