misu sheet, owner of the bedspread shop, knows his customers will pay no more than $115 for a comforter…

misu sheet, owner of the bedspread shop, knows his customers will pay no more than $115 for a comforter. misu wants a 20% markup on selling price. what is the most that misu can pay for a comforter? misus payment

misu sheet, owner of the bedspread shop, knows his customers will pay no more than $115 for a comforter. misu wants a 20% markup on selling price. what is the most that misu can pay for a comforter? misus payment

Answer

Explanation:

Step1: Define the relationship

Let the cost price be $x$. The selling - price formula with a markup on the selling price is $Cost\ price=(1 - Markup\ percentage)\times Selling\ price$.

Step2: Substitute the values

We know the selling price is $115$ and the markup percentage on the selling price is $20%=0.2$. So, $x=(1 - 0.2)\times115$.

Step3: Calculate the cost price

$x = 0.8\times115=92$.

Answer:

$92$