Mr. Small, store manager for Jay's Appliance, is having a difficult time placing a selling price on a refrigerator that cost $410. Mr. Small knows his boss would like to have a 45 percent markup based on cost. The selling price should be

Question

anonymous · Answer

sorry but what do u mean by 45 percent markup?

anonymous · Answer

I really dont know, its off of a paper from class that i missed

anonymous · Answer

sorry! i have no idea:(

luffingsails · Answer

Typically a markup is an increase in price. So if there is 45% markup on a cost of $1... the price of the product is $1.45. That should give you a clue on how to proceed.

anonymous · Answer

the new price should be:
410+ 410(.45)
which equals $594.50

anonymous · Answer

nice work luffingsails and openstudy624!