A furniture store sells baby furniture for $260.00 per set. If the markup is 150

Question

A furniture store sells baby furniture for $260.00 per set. If the markup is 150% on cost, the cost of the furniture is:    a. $156.00    b. $104.00    c. $180.00    d. $173.33 Q9. If a markup is based on selling price, then the __________ is the base and represents 100%.    a. cost    b. markup    c. margin    d. selling price    e. none of the above Q10. In arriving at a markup on merchandise for sale, most __________ use the selling price as the base because the keep their records in terms of selling price.    a. retailers    b. wholesalers    c. consumers    d. manufacturers

Explanation / Answer

Selling price =260

Cost =x

Add:markup = 150% of x = 1.5x

Sale price = 2.5x

2.5 x =260

x= 104

Option B 104 is the cost

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Retailers or sellers

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