Question

Shelly buys desk to sell in her furniture store. She marks up the price by 35% and sells the desk for $290.25. What price did Shelly pay for the desk.

Answer 1

Shelly paid $215 for the desk

Explanation:

In this question, we are asked to calculate the price a particular desk was bought given the price at which it was sold and the percentage of profit associated with the sales of the desk. In other words, we are calculating the cost price

Mathematically,

% profit = (selling price - cost price)/cost price * 100%

Our percentage profit here is 35% and our selling price is $290.25, we are left with calculating the selling price. let’s input these values into the equation;

Before that, let’s say the cost price is $x

35 = (290.25-x)/x * 100

100(290.25-x) = 35x

29025 -100x = 35x

135x = 29025

x = 29025/135

x = $215