Question 143168: Please help me answer this! it's very important! :]
Andrea purchased a picture frame for $14.56. This price was a 30% markup from the wholesale cost. What was the wholesale cost?
Answer by zephyr(9)   (Show Source):
You can put this solution on YOUR website! If I read the question right. Then your work should look like this.
14.56 = the markup.
n = the original price, and because this is a markup, n = 100%.
Since 14.56 markup, it's the original price (100%) + the markup percentage (30%) which equals 130%, so that means 14.56 is 130% of the original price.
Now we cross multiply to find N
(and since you're not supposed to multiply n in this type of equation, you multiply the 2 numbers that are diagonal to each other...in other words, you do this.)
and you divide it by the remaining number. (which happens to be 130)
 Therefore, the Wholesale price was $11.20.
(I hope that wasn't too confusing. Hope it helped!)
(Note: in this type of equation, you will always have 100 on the bottom right. For example, if you were finding something that had a markdown, it would be
 Say, something that cost $10 was on sale, and you bought it at 1/2 price. That would be
then you would multiply 10 by 50 ( ) then you would divide by 100. ( ) and then $5 would be your answer)
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