Question

The cost of a motorcycle $6,500 and markup prices 80%

Answer 1

Solving for retail price of a $6,500 motorcycle given a 80% markup:

We know that the original price of the bike is $6,500, and we want to obtain 80% of profit when we sell it.

Therefore, we ought to calculate the 80% of $6,500 , and then add this value to the original price.

A simple formula for the y percentage of x (y% of x) is:

`x*(y)/(100)`

Applying it to this problem to find 80% of $6,500:

`6500*(80)/(100)=5200`

Adding up the $6,500 of the original price with the markup of 80% ($5,200), we get:

`6500+5200=11700`

Thus, the retail price of the motorcycle, if we want to obtain an 80% markup, should be $11,700