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12 December, 05:04

The wholesale price for a chair is $115. A certain furniture store marks up the wholesale price by 15%. Find the price of the chair in the furniture store. Round your answer to the nearest cent, as necessary.

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  1. 12 December, 05:19
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    Answer: The price of the chair is $132.30

    Step-by-step explanation: The original price of the chair is $115.00 and it's now being marked up by 15%.

    That means the new price is now $115.00 + 15% (that's 15% of 115)

    To calculate the increment,

    New price = 115 * 15/100

    = 115 * 3/20

    = 23 * 3/4

    = 69/4

    = 17¼ or 17.25

    Since the original price has been marked up, we simply add the increment to the original price. That gives us,

    $115.00 + $17.25

    $132.24

    Approximate that to the nearest cent and you have

    $132.30.
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