Answer:
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
[tex]=\frac{145\times x}{100}[/tex]
[tex]=1.45x[/tex]
According to the question,
1.45x = 300
[tex]\implies x = \frac{300}{1.45}=206.89655\approx 206.90[/tex]
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
