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| Math Central | Quandaries & Queries |
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Question from Angel: If i have a total price of $15171.00 and we marked it up 30%. What was the original price? |
Angel,
Think of what you would do if you knew the original price and you wanted to find the total price after the markup of 30%. You would take the original price, add 30% of the original price to arrive at the total price. To write this as an equation let $P be the original price then
$P + 30% of $P is the total price, so
$P + 0.3 × $P = $15171.00
On the left side there is a common factor of $P so
$P(1.30) = $15171.00
Solve for $P.
Penny
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