Verified Answer :

sleepyjess

If the hat is at a 55% markup, then the retail price is 1.55 * original price($16)
1.55*16 = $24.80

Answer: Hence, the retail price of that hat is $24.8.

Step-by-step explanation:

Since we have given that

Original price of the hat = $16

Rate of mark up = 55%

So,Amount of mark up would be

\(\dfrac{55}{100}\times 16\\\\=0.55\times 16\\\\=\$8.8\)

So, the retail price of that hat would be

\(\$16+\$8.8\\\\=\$24.8\)

Hence, the retail price of that hat is $24.8.

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