Question

Use the original price and the markup to find the retail price.

Original price: $60; Markup: 25%

Answer 1

$75

Explanation:

Since the original cost is $60 then this is 100% the price. The new price which is marked up 25% will be in comparison 125% of the original cost. To find the new price set up a proportion with these values:

`(x)/(60)=(125)/(100)`

Solve for the original price by cross multiplying numerator with denominator.

x(100) = 60(125)

100x = 7500

x= $75