Markups based on selling price

Question

What is the selling price of a dining room set at Macy’s? Assume actual cost is $770 and 46% markup on selling price.

Answer 1

Cost is $770

markup is 46% of $770

⁴⁶ / ₁₀₀ x 770 = 354.20

so we can say the markup is 46% and the profit is $354.20.

selling price of dining set = cost + markup = 770 + 354.20 = $1,124.20 (probably rounded down to $1,124)