Question

what is the selling price of a dining room set at Macy's. assume actual cost is $800 and 55% markup on selling price

Answer 1

`1,777.7777` ≈
`1,777.78`

Explanation:

Markup is 55%, cost is the complement of that markup

∴
`(800)/((1-0.55)) = 1,777.7777777777777`

Answer 2

Answer: The required selling price of the dining room set is $1240.

Step-by-step explanation: We are given to find the selling price of a dining room set at Macy's if the actual cost is $800 and 55% markup on the selling price.

The markup price of the dining room set is given by

`M.P.=55\%* 800=(55)/(100)* 800=55*8=440.`

Therefore, the selling price of the dining room set is given by

S.P. = 800 + M.P. = 800 + 440 = 1240.

Thus, the required selling price of the dining room set is $1240.