Question

Jessica's Furniture Store buys a couch at a wholesale price of 113.00 If the markup rate at Jessica's Furniture Store is 45% what is the markup for the couch?

Answer 1

It is actually, $50.85. Remember that a markup rate is a percentage of the wholesale price that a store adds to get a selling or retail price. The amount of markup can be found with the following equation: markup rate times wholesale price equals 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 100÷45=0.45. 0.45*113.00=50.85. So, your answer is $50.85.

Answer 2

163.85 would be your answer.
45% of 113.00 = 50.85.
Then, add 50.85 to 113.00 which = 163.85
I hope this helps!