A Sofa Has a Wholesale Price of $650

question 252

Essay

A sofa has a wholesale price of $650. A furniture store's markup rate is 40%.
a. What is the markup for this sofa?
b. What is the retail price?
c. If the Smiths buy this sofa including a 7% sales tax, how much will they pay?

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Definitions:

Adducts

The movement of a limb or other part toward the midline of the body or toward another part.

Swan-neck Deformity

A condition characterized by hyperextension of the proximal interphalangeal joint and flexion of the distal interphalangeal joint of the fingers, often associated with rheumatoid arthritis.

Ulnar Deviation

A hand condition where the fingers bend towards the ulna bone and the outer side of the forearm, often associated with rheumatoid arthritis.

Rheumatoid Arthritis

A chronic autoimmune condition causing inflammation, pain, and deformity in the joints.