Question

A store pays $307 for a refrigerator. The store marks up the price by 38%. What is the

amount of the mark-up?
Round your answer to the nearest dollar

Answer 1

Since the $307 is the buying price of the store which makes it 100%. The store needs to make a profit from the refrigerator so it adds a +38% on the refrigerator making it a value of 138% of $307 which is 138/100 * $307 =$423.66 but we need it to the nearest dollar which will be rounded of to $424 since it passed the .5 mark

Explanation: