Question

what is the selling price of a dining room set at Macy's. assume actual cost is $800 and 55% markup on selling price

Answer 1

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

$M.P.=55\%\times 800=\dfrac{55}{100}\times 800=55\times8=440.$

Therefore, the selling price of the dining room set is given by

S.P. = 800 + M.P. = 800 + 440 = 1240.

Thus, the required selling price of the dining room set is $1240.

Answer 2

Answer:

$1,777.7777$ ≈ $1,777.78$

Step-by-step explanation:

Markup is 55%, cost is the complement of that markup

∴   $\frac{800}{(1-0.55)} = 1,777.7777777777777$