Question

The manager at Brandon's Furniture Store is trying to figure out how much to charge for a sofa that just arrived. If the sofa was bought at a wholesale price of $97.00, and Brandon's Furniture Store marks up all furniture by40%, at what price should the manager sell the sofa?

Answer 1

So, we know that the manager bought the sofa for $97.00 The manager's markup price is .40 or 40%. A markup price is the selling price that someone adds on the price that he/she bought it from.

The manager got the sofa at $97.00 and put 40% of $97.00 onto the $97.00 So, when the manager sells the sofa it will cost more than $97.00

To find the new markup price, we multiply $97.00 by 1.40 or 1.4 The reason is because 97 times 100% or 1.00 is 97. That's the original price, right? How do we add 40% of 97 to itself? We add that .4 to the original price. So, 1.00 + .40 = 1.40 or a 140%. When we do $97.00*1.4, we get $135.80 Hope this helped!