Question

Sears sells a sweater for $69 and has a 60% markup on the selling price what is the cost of the sweater to Sears

Answer 1

$43.13

Explanation:

The original price plus the markup = selling price

The markup = original price * percent markup

So

selling price = original price + original price* percent markup

Factoring out the original price

selling price = original price (1+ percent markup)

Substituting what we know)

69 = original price (1+.60)

69 = original price(1.6)

Divide both sides by 1.6

69/1.6 = original price

43.125 = original price

We round money to the nearest cent

$43.13