Jessica's Furniture Store Markup Calculation
Calculation of Markup Rate
Markup: The markup is the difference between the wholesale price and the selling price, expressed as a percentage of the wholesale price.
Given Data
Wholesale Price: $113.00
Markup Rate: 45%
Calculation
To find the markup, we need to calculate 45% of the wholesale price. To do this, multiply the wholesale price by 0.45.
Markup = $113.00 Ã 0.45 = $50.85
Final Answer
Therefore, the markup rate at Jessica's furniture store is $50.85.