Question

A store bought a sofa wholesale for 200 and marked it up 15% when the sofa did int sell they reduced the price 15% show why the current price is not 200

Answer 1

The current price of sofa is $195.50.

Step by Step explanation:Cost price of the sofa for the store = $200

Now, the store marked it up 15%.

So, marked price of sofa = $200 + 15% of $200

=200 + 30

=$230

Now, it is given that the sofa could not sell at this price. So, the store reduces its price by 15% now.

So, current price of sofa = $230 - 15% of $230

= 230 - 34.5

=$195.5

So, the current price of the sofa is $195.50.