Business Math

posted by .

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?

  • Business Math -

    1.70 x $240 = ____

  • Business Math -

    That would be the answer for the markup on cost, but the 70% is a markup on selling price not cost.

    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?

  • Business Math -

    gvvv

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. math..percents

    Craig wants to buy some software for his computer. The company that makes the software sells it to a software distributor for $30. The distributor adds 15% to the price and then sells it to the store. The store adds 25% on top of the …
  2. Math

    A video store sells a certain video for $32, which is 60 percent more than it costs the store to purchase this video. During an inventory sale, employees are invited to purchase remaining videos at 25 percent off the store's cost. …
  3. Business Math

    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?
  4. Finite Math

    66, A clothing store sells a shirt clothing $20 for $33 and a jacket costing $60 for $93. A, If the makeup policy of the store is assumed to be linear, write an equation that expresses retail price R in terms of cost C (wholesale price). …
  5. 7th grade math Ms. Sue last two questions thanks

    15. In Store A, a book that regularly sells for $24.99 is on sale at 15% off. In Store B, the same book regularly sells for $27.99 and is on sale at 25% off. Which store sells the book for the lower sale price?
  6. Business Math

    Bloomingdales purchases imported perfume for $24.30 per ounce. If the store policy's to mark up all merchadise in that department 39% based on selling price, what is the retail selling price of the perfume?
  7. Math

    9.During the basketball season, Diane took 134 shots and made about 56% of them. a. How many shots did Diane make?
  8. Accounting

    A music store sells a CD with a wholesale price of $6 for $10.50 and one with a wholesale price of $14.00 for $20.50. If the markup policy for the store is assumed to be linear, find a function r = m(w) that expresses the retail price …
  9. Math "Need Help Asap"!

    "Find each percent of markup?" 5.)Store's cos:$26 selling price:$39 6.)Store's cost:$125 selling price:$168.75 7.)Store's cost:$75 selling price:$90 "Find each selling price round to the nearest cent?
  10. Math

    In Store A, a pair of shoes that regularly sell for $54.99 is on sale at 20% off. In Store B, the same pair of shoes regularly sells for $59.99 and is on sale at 30% off. Which store sells the shoes for the lower sale price?

More Similar Questions