Question

Espana The wholesale price for a bookcase is $170. A certain furniture store marks up the wholesale price by 28%. Find the price of the bookcase in the furniture store. Round your answer to the nearest cent, as necessary.

Answer 1

Given in the scenario:

a.) The wholesale price for a bookcase is $170.

b.) A certain furniture store marks up the wholesale price by 28%.

It's been stated that the wholesale price of the bookcase in a certain furniture store marks up by 28%. It means that the price of the bookcase has been added by 28% of the wholesale price in a certain furniture store.

We get,

$\text{ P = Wholesale Price + 28\% of Wholesale price}$

Where,

P = The price of the bookcase in the furniture shop.

Step 1: Let's determine the 28% of the wholesale price.

$\text{ = \ 170 x }\frac{28(\text{\%)}}{100(\text{\%)}}\text{ = \ 170 x }0.28$$\text{ = \ 47.60}$

Therefore, the added price of the bookcase is $47.60.

Step 2: Add the wholesale price and the 28% mark up.

$\text{ = \ 170 + \ 47.60}$$\text{ = \ 217.60}$

Therefore, the price of the bookcase in the furniture shop is $217.60.