Answer:
$24.80
Step-by-step explanation:
Original price paid for the hat = $16
Percent markup = 55%
Interest amount on the hat = 55% of original price = 55% * $16
Interest on hat = 55/100* 16 = $8.8
Retail price = Original price of hat + store interest amount
Retail price = $16+$8.8
Retail price $24.80
