Question

Jay King, owner of a local Bed and Bath Store knows that his customers will only pay at most, $299 for a blow up bed. Assuming Jay wants a 40% markup on selling price, the most he could pay the manufacturer for the blow up bed is

Answer 1

If you would like to know the price Jay can pay the manufacturer for the blow up bed, you can calculate this using the following steps:

100% + 40% = 140%

140% of x is $299
140% * x = 299
140/100 * x = 299      /*100/140
x = 299 * 100 / 140
x = $213.6

40% of $213.6 = 40% * 213.6 = 40/100 * 213.6 = 85.44
$213.6 + $85.44 = $299

The correct result would be $213.6.