The kitchen kompany operates on a 145% markup rate based on the cost. the markup on the store’s new line of cabinets is $300 per cabinet. find the selling price of one cabinet. (hint: find the cost first.)

The selling price of one cabinet is $ 506.90.

Step-by-step explanation:

Let x be the cost price of one cabinet,

Given,

The markup percentage = 145%

Thus, the markup in one cabinet = 145 % of the cost price of one cabinet

= 145% of x

According to the question,

1.45x = 300

So, the cost price of one cabinet  = $ 206.90 ( approx ),

Hence, the selling price of the cabinet = Cost price of the cabinet + Markup

= $ 206.90 + $ 300

= $ 506.90

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