Question: The cost of some imported hand tools is $13.46$ per set. A retailer decides to use a markup of $30\%$ on cost. Find the selling price of the set.
1. **State the problem:** We need to find the selling price of a set of hand tools that cost $13.46$ with a $30\%$ markup.
2. **Formula used:** Selling Price = Cost + Markup
Markup is calculated as a percentage of the cost:
$$\text{Markup} = \text{Cost} \times \frac{\text{Markup Percentage}}{100}$$
3. **Calculate the markup:**
$$\text{Markup} = 13.46 \times \frac{30}{100} = 13.46 \times 0.30 = 4.038$$
4. **Calculate the selling price:**
$$\text{Selling Price} = 13.46 + 4.038 = 17.498$$
5. **Round to the nearest cent:**
$$17.498 \approx 17.50$$
**Final answer:** The selling price of the set is $17.50$ per set.