Question

Find the cost of the article. Retail price of article = $555 Percentage of markup (on cost) = 35% Cost of article = _____. 194.25 360.75 411.11 749.25

Answer 1

$411.11

Explanation:

(Oware) They are looking for the Cost Not the Retail. So you have to figure this one out backwards.

411.11 x 0.35 = 554.9985

Rounded up is retail of $555

So the answer is $411.11

Answer 2

The correct option is D. $749.25

Explanation:

Retail Price of the article = $555

Percentage of mark up on the cost = 35%

Mark up cost of the article = 35% of 555

= 0.35 × 555

= $194.25

Now, cost price of the article = Retail cost price + Mark up cost

= 555 + 194.25

= $749.25

Hence, Cost of the article = $749.25

Therefore, The correct option is D. $749.25