Problema Solution
Christopher's Furniture Store buys a bed frame at a wholesale price of $123.00. If the markup rate at Christopher's Furniture Store is 45%, what is the total markup for the bed frame in dollars?
Answer provided by our tutors
let
Markup = x
Sale price = $123.00
Markup % = 45%
Markup = Sale price - Cost
Cost = Sale price - Markup
Markup % = (Markup/Cost)*100
Markup % = [Markup/(Sales Price - Markup)]*100
Markup/(Sales Price - Markup) = 0.45
x/(123 - x) = 0.45
by solving we find
x = $38.17
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the total markup is $38.17.