A store owner paid $120 wholesale price for a suit. He needs to make a 35% profit on
the sale of the suit. By how much should he markup the price of the suit to make his desired profit?

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Answer:

The answer to that is $78.00 and you save $42.00

Step-by-step explanation:

All you have to do in this problem is, figure out what is 35% of $120.  A product that normally costs $120 with a 35 percent discount will cost you $78.00, and you saved $42.00. You can also calculate how much you save by simply moving the period in 35.00 percent two spaces to the left, and then multiply the result by $120 as follows: $120 x . 35 = $42.00 savings.

Mark up price for earned desired profit is $162

Desired profit based question:

Given that;

Amount paid by owner = $120

Desired profit = 35%

Find:

Mark up price for earned desired profit

Computation:

Mark up price for earned desired profit = 120(1 + 35%)

Mark up price for earned desired profit = 120(1 + 0.35)

Mark up price for earned desired profit = 120(1.35)

Mark up price for earned desired profit = $162

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