Question

A cabinet set was sold at RM 9500 after a markup of 6.5%. Find the original price and the markup amount.

Answer 1

1) The original price is 8920 2) The mark up is 580

Explanation:

!)We need to find out the initial price, suppose it is equal to 100 percents. The price was raised and it has reached 100+6.5= 106.5 percents . 106.5 percents from initial price is the new price (RM 9500). Find out the value of one percent

9500:106.5= 89.2 (approximately).

2)Then find the original price multiplying the value of percent by 100. 89.2*100= 8920 - initial price

3)Then mark up is a remainder between old price and new price . It is 9500-8920= 580.