A book with a base price of \$15.75 is marked up by 65%. What is the new price of the book?

• A. \$25.99
• B. \$18.75
• C. \$23.50
• D. \$15.75

Answer: (A)

Verified step by step guidance

1. Step 1: Understand the problem. The base price of the book is \$15.75, and it is marked up by 65%. To find the new price, you need to calculate the markup amount and add it to the base price.
2. Step 2: Calculate the markup amount. Multiply the base price by the markup percentage (65%). Use the formula: Markup Amount = Base Price × Markup Percentage. In MathML: $\mathrm{Markup}=\mathrm{Base}\times \mathrm{Percentage}$
3. Step 3: Add the markup amount to the base price to find the new price. Use the formula: New Price = Base Price + Markup Amount. In MathML: $\mathrm{New}=\mathrm{Base}+\mathrm{Markup}$
4. Step 4: Ensure the calculations are accurate by double-checking the multiplication and addition steps.
5. Step 5: Compare the calculated new price to the provided options (\$25.99, \$18.75, \$23.50, \$15.75) to identify the correct answer.