Question

The manager at Jessica's Furniture Store is trying to figure out how much to charge for a couch that just arrived. The couch was bought at a wholesale price of \$113.00$113.00dollar sign, 113, point, 00, and Jessica's Furniture Store marks up all furniture by 45\%45%45, percent.

At what price should the manager sell the couch?

Answer 1

163.85 bucks,bix,backs,boks :P

Step-by-step explanation:

In order to find the retail price, we must first find the amount of markup. Remember that a markup rate is a percentage of the wholesale price that a store adds to get a selling or retail price. With this knowledge, we can figure out the following equation:

markup rate× wholesale price = amount of markup

Since the markup rate is a percentage, we have to convert it into a decimal first. Percent means "out of one hundred," so 45% is equivalent to 45/100 which is also equal to 45 \ 100 so 45/100 = 0.45. 0.45 * 113 = 50.85.

Since the markup rate is a percentage of the wholesale price that is added to get the retail price, we can find the retail price with the following equation:

amount of markup + wholesale price = retail price. 50.85 + 113 = 163.85

Answer 2

Answer: $163.85

Step-by-step explanation:

1) Data:

Purchase price: $ 113.00

mark up: 45%

2) Formula

selling price = purchase price + mark up

mark up = % * purchase price

3) Solution

mark up = 45% * $ 113.00 = 0.45 * $ 113.00 = $50.85

selling price = $ 113.00 + $ 50.85 = $ 163.85

Answer: $ 163.85