Answer:
1/2
Step-by-step explanation:
THIS IS THE CORRECT ANSWER DONT DELETE
First: markup rate × wholesale price = amount of markup
Second: Well the markup rate is a percentage, you have to convert it into a decimal. Percent means "out of one hundred," so <span>80%</span> is equivalent to <span>80/100 </span>which is also equal to <span>80÷100</span>.
<span>Third: 80÷100=0.80</span>
0.80 × $93.00 = $74.40
Fourth: The markup rate is a percentage of the wholesale price that is added to get the retail price, you can find the retail price with the following equation: amount of markup + wholesale price = retail price
<span>$74.40</span> + <span>$93.00</span> = <span>$167.40</span>
The retail price of the chair should be <span>$167.40</span>.
