Question

if the cost of a table is 99.50 and it would have a 95% markup, what will be the new selling price?​

Answer 1

Given:

The cost of a table is 99.50 and it would have a 95% markup

To find:

The new selling price

Solution:

The cost price of the table = 99.50

The markup percentage = 95%

We know,

$\boxed{\bold{Markup \:percentage = \frac{Selling \:price - Cost \:price}{Cost \:price}\times 100 }}$

On rearranging the above formula, we get

$\boxed{\bold{Selling \:price = Cost \:price + [\frac{Markup \:percentage}{100}\times Cost \:price] }}$

Therefore,

The selling price of the table is,

= $99.50 + [\frac{95}{100}\times 99.50] }}$

= $99.50 + [0.95\times 99.50] }}$

= $99.50 + 94.52$

= $\bold{194.02}$

Thus, the new selling price of the table is → 194.02.

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