what is the selling price of a dining room set at Macy's. assume actual cost is $800 and 55% markup on selling price
Accepted Solution
A:
Answer: The required selling price of the dining room set is $1240.Step-by-step explanation: We are given to find the selling price of a dining room set at Macy's if the actual cost is $800 and 55% markup on the selling price.The markup price of the dining room set is given by[tex]M.P.=55\%\times 800=\dfrac{55}{100}\times 800=55\times8=440.[/tex]Therefore, the selling price of the dining room set is given byS.P. = 800 + M.P. = 800 + 440 = 1240.Thus, the required selling price of the dining room set is $1240.