that Solving for the retail price of a parrot with 20% markup and 3% taxes
We want to know the retail price of a parrot if it costs us $159.95 , knowing that we want to obtain 20% of profit and we're getting taxed 3%
Firts, we have to calculate the 20% of the original value ($159.95), and add that up. Then, we calculate the 3% of that value ($159.95 + 20% markup) and add it up, asl following:
[tex]\begin{gathered} 159.95\times\frac{20}{100}=31.99\rightarrow159.95+31.99=191.94 \\ 191.94\times\frac{3}{100}=5.76\rightarrow191.94+5.76=197.70 \end{gathered}[/tex]Thus, the retail price of the parrot, with 20% markup and 3% taxes, should be $197.70
