The wholesale price for a chair is $124. A certain furniture store marks up the wholesale price by 16%. Find the price of the chair in the furniture store.
Round your answer to the nearest cent, as necessary.

Given the following question:
Initial price of the chair was $124....
Marked up 16% (which means the price has increased by 16%)
Find the new price of the chair...

In order to find the answer, we find 16% of a given number in till it equals 124 which was the initial price.

[tex]\frac{143.84-124}{124} \times100=143.84-124=19.84\div124=0.16\times100=16[/tex]
16% of 143.84 is 124
143.84 is already rounded to the nearest cent

Which means the new price of the chair is "$143.84"

Hope this helps.

The wholesale price for a chair is $124. A certain furniture store marks up the wholesale price by 16%. Find the price of the chair in the furniture store. Round your answer to the nearest cent, as necessary.

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The wholesale price for a chair is $124. A certain furniture store marks up the wholesale price by 16%. Find the price of the chair in the furniture store.
Round your answer to the nearest cent, as necessary.