The retail price is $ 490
Solution:
Given that,
Cost price = $ 280
Mark up rate = 75 %
We have to find the retail price
Retail price = cost price + 75 % of cost price
Therefore,
Retail price = 280 + 75 % of 280
[tex]Retail\ price = 280 + \frac{75}{100} \times 280\\\\Retail\ price = 280 + 0.75 \times 280\\\\Retail\ price = 280 + 210\\\\Retail\ price = 490[/tex]
Thus retail price is $ 490
