SOLUTION: What is the store cost for a ring that has a selling price of $4500 with a 1400% mark up?

SOLUTION: What is the store cost for a ring that has a selling price of $4500 with a 1400% mark up?

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Question 707173: What is the store cost for a ring that has a selling price of $4500 with a 1400% mark up?
Answer by jim_thompson5910(35256) (Show Source): You can put this solution on YOUR website!
I think you mean 140% not 1400%

if 4500 dollars is the final price to the customers, then

1.4x = 4500

x = 4500/1.4

x = 3,214.28571

x = 3,214.29

So the store bought the ring for 3,214.29 dollars originally and applied a 140% mark up to get the price for consumers to be $4,500

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