Question

An art gallery owner purchases art at flea markets and sells the art for a 14% profit in the gallery. If the owner purchases a piece of art for $885 at a flea market, what will be its selling price in the gallery?

Answer 1

Answer:

$1008.9

Step-by-step explanation:

Given

Cost of piece of art = $885

Percent profit made = 14%

Profit amount = 14% of $885

Profit amount = 14/100×885

Profit amount = 12390/100

Profit amounts to $123.90

Selling price = cost price + profit amount

Selling price = $885+$123.90

Selling price = $1008.9

Hence the selling price for the art at the gallery is $1008.9