Question

A store gives customers a markup of 13%. If the store sells a belt for $25, what was the wholesale price paid for the belt by the store?

Answer 1

$22.12

Explanation:

Let x be the wholesale price (the price before adding the markup).

The markup is 13%, so 13% of x is added to x.

x + 13%x = $25

x + 0.13x = 25

1.13x = 25

x = 25/1.13

x = 22.12