SOLUTION: A furniture store uses a markup rate of 60%. /the store sells a solid oak curio cabinet for P20 400. Find the cost of the curio cabinet? please give me your representation thank

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Question 169586: A furniture store uses a markup rate of 60%. /the store sells a solid oak curio cabinet for P20 400. Find the cost of the curio cabinet?
please give me your representation thank you!!!
Answer by Mathtut(3670) About Me  (Show Source):
You can put this solution on YOUR website!
1.6x=20400....where x is the original cost.
highlight%28x=12750%29 original cost.
remember the markup is 60%..
the way they originally figure the sales price is x+.6x=sales price
........................................1.6x=sales price
that is why you are dividing the sales price(20400) by 1.6 to find original cost