Answer:
The maximum amount that could be paid for the antique pitcher is $13.93 as shown by the workings in the explanation section below.
Explanation:
Since the maximum price that could be charged for the antique pitcher is $17,the most that could be paid in purchasing it, is given by the below formula:
selling price * 100% / (100% + Markup%)
=$17*100%/(100%+22%)
=$13.93
From the foregoing analysis,the markup in dollar terms is $17-$13.93=$3.07 which represents 22% of the cost price of the antique pitcher.
