Pat Maninan, a customer of Brown Co., will pay $400 for a new kitchen table. Brown has a 55% markup on selling price. What is the most Brown can pay for this kitchen table?

Question

anonymous · Answer

this is my last question!

ash2326 · Answer

We all are here to help. Ask as many as you want:)
Welcome to Open Study:D

dumbcow · Answer

4000 is selling price
Let p be cost.

because of 55% markup 
markup/4000 = 0.55
markup = .55 * 4000 = 2200

p = 4000 - 2200

anonymous · Answer

so it wud be 1800

ash2326 · Answer

@dumbcow it's asking for what max he could pay. I think $400 is not selling price

dumbcow · Answer

oh oops i put 4,000

and how else would you determine selling price though?

ash2326 · Answer

Markup= 55% of 400=220
Selling Price= $400+$220=$620

ash2326 · Answer

The most Brown can pay for this kitchen table is $620

anonymous · Answer

so then it wud be 620?

ash2326 · Answer

Yeah I think so

anonymous · Answer

thank you

dumbcow · Answer

Brown is the seller, not the buyer

anonymous · Answer

i have 2 more questions to do!

anonymous · Answer

with only 35 minutes to do them

ash2326 · Answer

Oh you are right:)
Let the cost be x
55% markup
Markup= 0.55x
so
1.55x=400
so x=258.06
so the most Brown can pay is $258.06

anonymous · Answer

thnk u(:

kropot72 · Answer

The most Brown can pay is $180 in order to make his required mark up on the selling price of $400.

anonymous · Answer

ok now im confused >.<

dumbcow · Answer

the markup is 55% of the selling price (400)
--> markup = 220

cost = 400 - 220 = 180

anonymous · Answer

thank you

dumbcow · Answer

ash, you were setting markup as 55% of cost price