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Question from Blake:

An item costs a store owner $1.79 and he wants to make a 40% margin on the item. What should the item be sold at in order to get the 40% margin?

Blake,

If I go into this shop and look at the price I know it is made up of two parts, $\$1.79$ and the markup. You have said that the markup is $40\%$ of the price and hence $\$1.79$ is $60\%$ of the price. That is

\[1.79 = 0.60 \times \mbox{ price.}\]

Hence

\[ \mbox{ price } = \frac{1.79}{0.60.}\]

Penny

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