Question 9478: A stereo store marks up each item it sells 60% above wholesale price. What is the wholesale price on a cassete player that retails at $144 Answer by rapaljer(4671) (Show Source):
You can put this solution on YOUR website! I'm going to have to disagree on this one too!
Retail price = wholesale price + markup, where markup is .60* wholesale price
Retail = Wholesale + .6 wholesale = 1.6 wholesale
Let x = wholesale price
Equation is:
Retail = 1.6 wholesale
$ 144 = 1.6 x
Divide both sides by 1.6,
x =
x = $90 Wholesale price
Check
Begin with $90, calculate the 60% markup, which is 90*.6 or $54.
