Question

The selling price of a refrigerator, is $548.90. The markup value was 10%. How much was the refrigerator originally?

Answer 1

Let the original price be p.

Then

p + (10% of p) = 548.90

1.1p = 548.90

p = 548.9 / 1.1 = $499.00

Hence the refrigerator was $499.00 originally