Problema Solution
Sears sells a sweater for $69 and has a 60% markup on the selling price. What is the cost of the sweater to Sears?
Answer provided by our tutors
Let
Cost of the sweater = x
Sell Price = $69
Markup on Sell Price % = 60%
(Sell Price - Cost)/Cost = 0.60
(69 - x)/x = 0.60
........
click here to see the equation solved for x
........
x = $43.125
The cost of the sweater is $43.125.