Question

Write a program that asks the user to enter an item’s wholesale cost and the markup percentage. It should then display the item’s retail price, which also includes a sales tax. For example, if the item’s wholesale cost is $5.00 and it’s markup is 100 percent, than the item’s retail price will be the marked up cost ($10.00) plus the sales tax (assume 6%), which would be $10.60). If an item’s wholesale cost is $10.00 and it’s markup is 50 percent, then the retail cost would be $15.90.

The program should have a method named “calculateRetail” that receives the wholesale cost and markup percentage as arguments and return the retail price of the item.

Answer 1

The programming language is not mentioned. Assuming it to be solved using C++. For any other languages (like JAVA or C), the structure of the program would be same, except that the keywords will be different.

The task is to get the item's wholesale cost and markup percentage. Markup percentage is calculated with respect to the wholesale cost. Also, sales tax are there (assuming 6%) which is applicable on the wholesale plus markup cost.

The required program (in C++) is given below:

#include<iostream>           //importing basic packages
#include<iomanip>
using namespace std;

double calculateRetail(double wholesale, double markup)           //function to calculate the retail price
{
   double r;
   r=wholesale+wholesale*markup/100;               //considering the markup percentage
   r=r+r*0.06;                   //consideration of the sales tax on the whole calculated value
   return r;                   //returning the value
}

int main()                       //main method
{
   double ws, mp, rp;
   cout<<"Enter the wholesale cost of the item: ";
   cin>>ws;                   //user input of the wholesale amount
   if(ws<=0)               //if the input is invalid, exit the program
   {
       cout<<"Please enter a valid wholesale cost value by running it again."<<endl;
       return 0;
   }
  
   cout<<"Enter the markup percentage: ";
   cin>>mp;                   //user input of the markup percentage
   if(mp<0)       //if the input is invalid, exit the program
   {
       cout<<"Please enter a valid markup percentage by running it again."<<endl;
       return 0;
   }
  
   rp=calculateRetail(ws, mp);           //calculating the retail price by calling the function and passing arguments
   cout<<fixed<<setprecision(2)<<endl;               //setting the result upto 2 decimals
   cout<<"The calculated Retail Price is: $"<<rp;           //displaying the result
   return 0;
}

Screenshot of the code:

It is assumed that correct markup percentage cannot be negative.

Output 1:

Output 2:

Output 3 (invalid input):

Output 4 (invalid input):

The same solution in JAVA is given below:

import java.util.*;         //import basic package
public class Main           //defining a class
{
    public static double calculateRetail(double wholesale, double markup)   //function to calculate the retail price
    {
        double r;
        r=wholesale+wholesale*markup/100;                //considering the markup percentage
        r=r+r*0.06;                    //consideration of the sales tax on the whole calculated value
        return r;                    //returning the value
    }

    public static void main(String []args)          // defining main method
    {
        double ws, mp, rp;
        Scanner sc=new Scanner(System.in);          //taking a Scanner object for input purpose
        System.out.printf("Enter the wholesale cost of the item: ");
        ws=sc.nextDouble();                    //user input of the wholesale amount
        if(ws<=0)                //if the input is invalid, exit the program
        {
            System.out.printf("Please enter a valid wholesale cost value by running it again.");
            System.exit(0);
        }
  
        System.out.printf("Enter the markup percentage: ");
        mp=sc.nextDouble();                    //user input of the markup percentage
        if(mp<0)        //if the input is invalid, exit the program
        {
            System.out.printf("Please enter a valid markup percentage by running it again.");
            System.exit(0);
        }
  
        rp=calculateRetail(ws, mp);     //calculating the retail price by calling the function and passing arguments
      
        System.out.printf("The calculated Retail Price is: $%.2f",rp);      //displaying the result upto 2 decimals

    }
}

Screenshot of the JAVA code:

Output of the JAVA code: