Question

= OPEN ENDED QUESTION Example 2 t) The local furniture store pays $110 for a chest of drawers and sells it with a 40% markup. What is the selling price of the chest of drawers?

Answer 1

Local furniture pays $110 for a chest of drawers

Local furniture sells it with a 40% markup.

Percents can be represented by the following expression:

$\text{Total}\cdot\frac{\text{percent}}{100}=\text{Equivalent number to the percent}$

With this expression, we can find 40% of $110 and then add it to $110:

$110\cdot\frac{40}{100}=44$

So, the 40%of $110 would be $44.

The selling price would be:

$110+44=154$

Selling price is $154.