William's Furniture Store buys a book shelf at a wholesale price of $112.00. If the markup rate at William's Furniture Store is 70% what is the markup for the book shelf?

Question

Mathematics

Keenan

6 January, 09:03

William's Furniture Store buys a book shelf at a wholesale price of $112.00. If the markup rate at William's Furniture Store is 70% what is the markup for the book shelf?

+5

Answers (1)

Know the Answer?

Johnathan Reynolds · Answer 1

R = rate = percent ... How much is the store's cost? Selling price = 140% of cost so the markup is 40% of cost (cost is 100% of itself) ... Example: A retailer purchases silk flowers for $31.56 per dozen and sells them for $4.78 each ... If 6 items cannot be sold, what is the selling price per item for a % markup of 25% on selling ...