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If the markup is 20% and the selling price is $45.00, what is the initial price

User Opax Web
by
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2 Answers

5 votes


(45)/(120)=(x)/(100)\\x=37.50

User Patrick Altman
by
8.3k points
3 votes

Answer:

Given data:

markup = 20 %

selling price = $45.00

Initial price = ?

Solution:

As we now Selling price = 100% initial cost + 20% of initial cost

$45.00 = 120%

120% = $45.00

1% = 45/120

= 0.375

100% initial cost = 0.375 * 100 = 37.5

Initial cost = 37.5

User David Burford
by
8.0k points

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