Question

20 POINTS !!!!!!

A buyer plans to sells a certain group of shirts in his store for $24 each. He needs to achieve a 45% markup over his cost. What should he pay his supplier per shirt in order to meet his goal? (Round to the nearest cent.)

Use the formula

C + M = S, where C is the cost, M is the markup and S is the selling price.

SHOW YOUR WORK.

Answer 1

I think the question is asking for the cost (C) when we already know that the sell price (S) is $24
So C+M=S
C+0.45C=24
1.45C=24
C=16.5516
And the answer is $16 and 55 cents