Jessica's Furniture Store buys a couch at a wholesale price of $113.00. If the markup rate at Jessica's Furniture Store is %45, what is the markup for the couch?
Answers
3.
Me: OK, come eat dinner.
Child: This is dinner?
Me: Yes.
Child: I see. I see. So you’re saying this is dinner.
Me: It’s getting cold.
Child: But this is whole pieces of food that you’ve just … cooked.
Me: Yes. We’re eating something healthy for dinner.
Child: How can we be sure this is healthy?
Me: It’s healthy. And it’s dinner. Eat it.
Child: I had cold pizza and Skittles for breakfast, and then I got a 100 on my spelling test.
Me: You’ve stumbled into post hoc ergo propter hoc there, buddy, and that hasn’t worked since the second century.
Child: PERHAPS IF I EXPLAINED THAT I DON’T WANT IT.
Me: You can yell all you want, this is dinner.
Child: I think it’s cold.
Me: It’s not cold.
Child: Look at it. It’s cold. It’s gone cold.
Me: Eat it, it’s not cold.
Child: I’ll eat it if you eat it.
Answer:
$50.85
Step-by-step explanation:
Remember that a markup rate is a percentage of the wholesale price that a store adds to get a selling or retail price. The amount of markup can be found with the following equation:
markup rate × wholesale price = amount of markup
Since the markup rate is a percentage, we have to convert it into a decimal first. Percent means "out of one hundred," so 45% is equivalent
to 45/100 which is also equal to 45 ÷ 100
45 ÷ 100 = 0.45
Now you have all the information you need to use the formula above!
0.45 × $113.00 = $50.85.