Question

Brandon's Furniture Store buys a sofa at a wholesale price of \$97.00$97.00dollar sign, 97, point, 00.
If the markup rate at Brandon's Furniture Store is 40\%40%40, percent, what is the markup for the sofa?

Answer 1

The markup is $38.80.
What I did:
markup rate=40%
40%=0.4
0.4*97=38.80.

Answer 2

The markup amount for the sofa will be $38.80

Explanation

Price of the sofa is $97.00 and the markup rate is 40%

So, for finding the markup amount, we just need to find 40% of $97.00

40% of $97.00

$= \frac{40}{100}*97.00 \\ \\ =0.4*97.00\\ \\ = 38.80$

So, the markup amount for the sofa will be $38.80