Question

A boat is marked up 20% on the original price the original price was 50$ what is the sale price of the boat before sales tax

Answer 1

$62.50

Explanation:

We can write a proportion. We know that 50 is 80% of the marked up price since it was the original price before the 20% mark up. Let's call the marked up price x. We write equal ratios of
`(80)/(100)` comparing percent and
`(50)/(x)` comparing the 50 to the marked up price. We then set them equal.

`(80)/(100) =(50)/(x)`

We then cross multiply across the equal sign from numerator to the opposite numerator.

80(x)=50(100)

80x=5000

We divide to find x.

x=62.5