if a furniture store buys a coffee table from a manufacturer for $120 and sells it at 100% markup, what is the selling price of the coffee table?
so 240?
100% increase is another $120.
Thank You For The Answers.
Right!
pie is no 420
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To find the selling price of the coffee table, you need to add the markup to the cost price. In this case, the cost price is $120 and the markup is 100% of the cost price.
To calculate the markup amount, you need to multiply the cost price by the markup percentage. Since the markup is 100%, the markup amount is equal to the cost price.
Markup amount = Cost price = $120
Now, to find the selling price, you add the markup amount to the cost price:
Selling price = Cost price + Markup amount
Selling price = $120 + $120 = $240
Therefore, the selling price of the coffee table is $240.