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To calculate the retail price of the item, we need to apply the 70% markup on the cost. Here's how you can calculate it:

1. The cost of the item is $26.38.
2. The markup is 70%, which means the increase in price due to the markup is 70% of the cost.

To find the retail price:
\[
\text{Markup amount} = \text{Cost} \times \frac{\text{Markup}}{100} = 26.38 \times \frac{70}{100} = 26.38 \times 0.70 = 18.47
\]
Now, add the markup amount to the original cost:
\[
\text{Retail price} = \text{Cost} + \text{Markup amount} = 26.38 + 18.47 = 44.85
\]

Therefore, the retail price of the item is **$44.85**.

Would you like further details or have any questions? Here are some related questions to deepen your understanding:

1. How would the retail price change if the markup percentage increased to 80%?
2. What would be the markup amount for a 50% markup on the same cost price?
3. Can you calculate the profit made from the markup in this scenario?
4. How is a markup percentage different from a margin percentage?
5. If the retail price is known, how can we calculate the cost using the markup percentage?

**Tip**: Always remember to convert percentage figures to decimals (by dividing by 100) when calculating with percentages.

Calculate the retail price of the item given below. Cost: $26.38, Markup on cost: 70%

Learn how to calculate the retail price of an item costing $26.38 with a 70% markup. This problem involves basic percentage calculations and retail pricing concepts. Suitable for students in Grades 6-8.

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