Answer:
The selling price of the tea set should be $2,170
Step-by-step explanation:
We know
Selling Price (SP) = Cost Price (CP) + Markup Amount
=>[tex]SP=CP+CP\times \frac{55}{100}=CP(1+\frac{55}{100})[/tex]
=>[tex]SP=\$ 1,400(1+\frac{55}{100})=\$ 2,170[/tex]
Thus the selling price of the tea set should be $2,170
