Question

a store pays $711.86 for a furnace and marks the price up by 50%. what is the new price?

Explanation:

Step1: Calculate the markup amount

The markup is 50% of the cost price. 50% can be written as 0.5. So the markup amount is $711.86\times0.5$.
$711.86\times0.5 = 355.93$

Step2: Calculate the new price

The new price is the sum of the cost price and the markup amount. So it is $711.86 + 355.93$.
$711.86+355.93=1067.79$

Answer:

$1067.79$