SOLUTION: The selling price of an article is $30. If the markup is 22%of the cost, what is the cost of the article?

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Question 145047: The selling price of an article is $30. If the markup is 22%of the cost, what is the cost of the article?
Answer by stanbon(48545) About Me  (Show Source):
You can put this solution on YOUR website!
The selling price of an article is $30. If the markup is 22%of the cost, what is the cost of the article?
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Let the original price be "x".
EQUATION:
x + 0.22x = 30
1.22x = 30
x = 30/1.22
x = $24.59
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Cheers,
Stan H.