Question

a $3 item is marked up 50%. what is the new price?

Explanation:

Step1: Find the markup amount

The markup is 50% of the original price (\$3). To calculate 50% of 3, we convert 50% to a decimal (0.5) and multiply: \( 0.5 \times 3 = 1.5 \)

Step2: Add markup to original price

The new price is the original price plus the markup. So, \( 3 + 1.5 = 4.5 \)

Answer:

The new price is \$4.50.