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September 3, 2015

Homework Help: Business Math

Posted by Amelia on Tuesday, December 8, 2009 at 9:49am.

A furniture store sells recliners at a 70% mark-up (based on price). If the recliner costs the store $240, what price will they charge?



Formula:

%Markup on cost=%markup on selling price/100% - % markup on selling price

x = 70%/100%-70%
x = 70%/30%
x = 233.333%

cost $240 x (233.33%) = $800

???????????????
Does this seem right?

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