Brandon's Furniture Store buys a sofa at a wholesale price of
\[\$97.00\].
If the markup rate at Brandon's Furniture Store is
\[40\%\], what is the markup for the sofa?
The markup rate is 40%, which means that the store marks up the wholesale price by 40% to get the selling price.
To find the markup amount, we multiply the wholesale price by the markup rate:
Markup amount = Wholesale price x Markup rate
= $97.00 x 0.40
= $<<97*0.40=38.80>>38.80
The markup for the sofa is $\$38.80.