Question

A store pays $977.59 for a furnace. The store marks up the price by 20 1/4%. What is the new price? around your answer to the nearest cent

Answer 1

$1175.57.

Explanation:

First, let's calculate the markup amount:

Markup amount = 20 1/4% of $977.59

To find 20 1/4% of a value, we can convert it to decimal form by dividing it by 100:

20 1/4% = 20.25%

20.25% = 20.25/100 = 0.2025 (decimal form)

Now, we can calculate the markup amount:

Markup amount = 0.2025 * $977.59

Markup amount ≈ $197.98

Next, we add the markup amount to the original price to find the new price:

New price = $977.59 + $197.98

New price ≈ $1175.57

Answer 2

$1175.55

Explanation:

20 1/4 % = 20.25%

20.25% of $977.59 =
= 0.2025 × $977.59

= $197.96

The markup is $197.96.

$977.59 + $197.96 = $1175.55

The selling price is $1175.55