Question

a fan is marked up 40% on the original price the original price was $20. what is the new price of the fan before sales tax?

Answer 1

Easy, use,

S%=C%+M%

You know it costs $20 and C is 100%, the markup is at 40%.

S%=100%+40%=140%

Rate of selling price=140%

So,

140%*$20=
=1.4*20
=$28

The new price of the fan at a 40% markup is $28.

Answer 2

$28 because20+(20)(.4)=?20+8=28

So the new price of the fan is $28.