SOLUTION: Superior Retail Club sells a set of reference books for $81. This retailer uses a 34% markup based on cost for this type of merchandise. Calculate the following (round your resp

Algebra ->  Absolute-value -> SOLUTION: Superior Retail Club sells a set of reference books for $81. This retailer uses a 34% markup based on cost for this type of merchandise. Calculate the following (round your resp      Log On


   



Question 976813: Superior Retail Club sells a set of reference books for $81. This retailer uses a 34% markup based on cost for this type of merchandise.
Calculate the following (round your responses to the nearest cent):
What is Cost of the Item?
What is the Markup?

Answer by FrankM(1040) About Me  (Show Source):
You can put this solution on YOUR website!
$81 is 134% of the cost, so
81/1.34 = 60.45
The cost is $60.45 and $20.55 is the markup.