Problema Solution
The dealer purchased an item, marked it up, and sold it to a customer for $560. If the markup was 40% of the dealer's purchase price, what did the dealer pay for the item?
A dealer purchased an item for $120. He then marked it up and sold it to a customer. If the markup was 30% of the purchased price, what was the selling price?
Answer provided by our tutors
1)Consider 560 as 140% and x as 100%
Then 560/ x = 140/100 ==> x = 400 to verify just find 40% of 400 and get 160.
2) Consider 120 as 100% and x as 30%
Then120/x = 100/30 ==> x = 36 the it was sold by 120+36 = 156