Question

The selling price of an item is ?$ 440 440. It is marked down by 20?%, but this sale price is still marked up from the cost of ?$ 320 . Find the markup from cost to sale price.

Answer 1

Answer:

10% mark up

Step-by-step explanation:

To find the sale price of an item we multiply the item's price by the percent we pay. If the item is marked down by 20% then we pay 80%.

The price is $440 (0.8)= 352. The sale price is $352.

We can create a proportion to find the markup from cost price to sale price. A proportion is n equation where two ratios are set equal to each other. We create two fractions using the prices and percents.

$\frac{x}{100} =\frac{352}{320}$

We begin solving by cross multiplying numerator to denominator of each fraction.

$x(320)=100(352)\\320x=35200\\\frac{320x}{320}=\frac{35200}{320}  \\x= 110$

This means the price was marked up from 100% of cost price by 10%.