The wholesale cost of (90) 10 mg tablets of a particular drug is $126.39. Assumi
ID: 2700252 • Letter: T
Question
The wholesale cost of (90) 10 mg tablets of a particular drug is $126.39. Assuming our dispensing costs are $65.35 and our profit goal is 20%, what would be our retail price? (credit: http://www.gpht.org/practice-exam-13.html)
A. $142.27
B. $191.74
C. $230.09
D. $204.81
Please help me understand how to calculate this problem and thank you in advance! I did it based off of "(retail-wholesale)/wholesale = percent markup". That formula makes sense to me and worked on other problems except this. This is how I calculated it:
Explanation / Answer
wholesale cost= 126.39
dispensing cost = 65.35
total cost = 126.35+65.35=191.74
Add profit margin = 191.74*20/100=38.348
reail price = 191.74+38.348=230.09..
Therefore answer is C i.e. 230.09
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