SOLUTION: i need help with this story problem. Andrea purchased a picture frame for $14.56. This price was a 30% markup from the wholesale cost. What was the wholesale cost? please &

Algebra ->  Finance -> SOLUTION: i need help with this story problem. Andrea purchased a picture frame for $14.56. This price was a 30% markup from the wholesale cost. What was the wholesale cost? please &      Log On


   

Question 143183: i need help with this story problem.
Andrea purchased a picture frame for $14.56. This price was a 30% markup from the wholesale cost. What was the wholesale cost?
please & thank-you!
:]
Answer by jojo14344(1513) About Me  (Show Source):
You can put this solution on YOUR website!
Sure!
If $14.56 is 30% markup of the wholesale cost, then the cost should be $14.56*0.70 = $10.192
why? vice versa, you markup $10.192 by 30 points (or %) = $10.192/0.70=$14.56
Thank you,
jojo