Q:

The manager at Jessica's Furniture Store is trying to figure out how much to charge for a couch that just arrived. The couch was bought at a wholesale price of \$113.00$113.00dollar sign, 113, point, 00, and Jessica's Furniture Store marks up all furniture by 45\%45%45, percent.At what price should the manager sell the couch?

Accepted Solution

A:
Given the mark up of all furniture in the store, the price that the manager should charge for the couch that just arrived is $163.85.How much should the manager charge for the couch that just arrived?Given that;Purchase price = $113.00  marks up = 45%Selling price = ?First, we determine the mark price.Since the Furniture Store marks up all furniture by 45%.Mark up price = mark up × purchase priceMark up price = 45% × $113.00Mark up price = 0.45 × $113.00Mark up price = $50.85Now, the selling price will be;Selling price = Purchase price + mark up priceSelling price = $113.00 + $50.85Selling price = $163.85Given the mark up of all furniture in the store, the price that the manager should charge for the couch that just arrived is $163.85.Learn more about mark up prices here: