The percent markup on the cost price of a dress is the same as the cost price in dollars. If the dress is sold for $24, what was the cost price of the dress ?

Question

asked Jan 23, 2023 121k views

1 Answer

Abdalrahman Shatou · Answer 1 · 2023-01-27T08:38:47+0000

Markup is the difference between a product's selling price and cost as a percentage of the cost.

If we call the cost of the dress as x, the markup is given by the following expression

The percent markup on the cost price of a dress is the same as the cost price in dollars, therefore, we can rewrite the previous expression as:

$x=((24-x)\cdot100)/(x)$

Solving for x, we have:

$\begin{gathered} x=((24-x)\cdot100)/(x) \\ x^2=2400-100x \\ x^2+100x-2400=0 \\ \implies x=-120\:or\:x=20 \end{gathered}$

Since we can't have a negative cost price, the markup is 20% and the cost price of the dress is $20.