Question

The wholesale price for a bookcase is $194 a certain furniture store marks up the wholesale price by 20% find the price of the bookcase in the furniture store round to the nearest cent if necessary

Answer 1

The wholesale price of the bookcase is $194. We can say that this price is the 100%.

The furniture store marks up this price by 20%, then the new price is 100%+20%=120%.

Therefore, the price of the bookcase in the furniture store is given by:

`\begin{gathered} NewPrice=194\cdot\frac{120\text{ \%}}{100\text{ \%}} \\ NewPrice=194\cdot1.2 \\ NewPrice=232.8 \end{gathered}`

Answer: the price of the bookcase in the furniture store is $232.8