SOLUTION: please help. A furniture store marks up items 20%(based on cost). It the furniture store buys a couch for $350, what will the selling price be?

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Question 82414: please help.
A furniture store marks up items 20%(based on cost). It the furniture store buys a couch for $350, what will the selling price be?
Answer by 303795(602) About Me  (Show Source):
You can put this solution on YOUR website!
The markup will be 20% of the cost price
ie%2820%2F100%29+%2A+350+=+%2470
The selling price is found by adding the markup to the cost price
ie $70 + $350 = $420
So the selling price of the couch will be $420.