Question

A store marks up it's items by 32%. If the selling price of a particular item is $82.50, what was it's cost price? Please could you show workings. Hi. Still having problems understanding the breakdown of this question. This is not my strong point. Feeling a bit anxious.

Answer 1

$108.90

Explanation:

The store is increasing the price by 32%. To get 132% (because you need the price of the item with 32% on top of that) you would multiply 82.5 by 1.32 (the percentage in decimal form) and you would get $108.90. To convert a percentage into a decimal all you need to do is move the decimal point 2 digits to the left.