QuestionWhat price should Jessica's Furniture Store sell a couch bought for \$113.00 with a 45% markup?

Studdy Solution

STEP 1

Assumptions1. The wholesale price of the couch is $113.00. The markup percentage is45%
3. The selling price is calculated as the wholesale price plus the markup

STEP 2

First, we need to find the markup amount on the wholesale price. We can do this by multiplying the wholesale price by the markup percentage.
$Markup = Wholesale\, price \\times Markup\, percentage$

STEP 3

Now, plug in the given values for the wholesale price and markup percentage to calculate the markup.
$Markup = \$113.00 \\times45\%$

STEP 4

Convert the percentage to a decimal value.
$45\% =0.45$ $Markup = \$113.00 \\times0.45$

STEP 5

Calculate the markup amount.
$Markup = \$113.00 \\times0.45 = \$50.85$

STEP 6

Now that we have the markup amount, we can find the selling price. This includes both the wholesale price and the markup.
$elling\, price = Wholesale\, price + Markup$

STEP 7

Plug in the values for the wholesale price and the markup to calculate the selling price.
$elling\, price = \$113.00 + \$50.85$

STEP 8

Calculate the selling price.
$elling\, price = \$113.00 + \$50.85 = \$163.85$ The manager should sell the couch for $163.85.

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