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To make a profit, the items sold in a furniture store are marked up by 70%. After marking up the prices, each item is put on sale at a discount of 15%. Design an algorithm to find the final selling price of an item sold at the furniture store. Please write all steps in the algorithm beginning with inputting the initial price. Do each part of the percentages individually and don’t calculate and use the relative percentage. Write this in algorithm format not program code format.
Expert Answer
// to store the cost price of article
cost_price = input(“Enter the original price”)
// The cost price is raised by 70% and is kept as markup price
// hence adding 70% of cost price
markup_price = cost_price + cost_price * 70 /100;
// The final selling price is at discount of 15% on markup price
// hence subtarcting 15% of markup price
selling_price = markup_price – (markup_price * 15 /100)
// Output the final sell price
output(“The final selling price is: “, selling_price, “$.”)
