Answer:
The current price of sofa is $195.50.
Step-by-step explanation:
Cost price of the sofa for the store = $200
Now, the store marked it up 15%.
So, marked price of sofa = $200 + 15% of $200
[tex]=200+\frac{15}{100}\times200[/tex]
=200 + 30
=$230
Now, it is given that the sofa could not sell at this price. So, the store reduces its price by 15% now.
So, current price of sofa = $230 - 15% of $230
[tex]=230-\frac{15}{100}\times230[/tex]
[tex]=230-\frac{3450}{100}[/tex]
= 230 - 34.5
=$195.5
So, the current price of the sofa is $195.50.
