 |
| ||
| |||
|
| Math Central | Quandaries & Queries |
|
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
| ||
| ||
| ||
 |
 |
|
Math Central is supported by the University of Regina and The Pacific Institute for the Mathematical Sciences.