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:
Applying it to this problem to find 80% of $6,500:
Adding up the $6,500 of the original price with the markup of 80% ($5,200), we get:
Thus, the retail price of the motorcycle, if we want to obtain an 80% markup, should be $11,700