Answer:
$43.96
Step-by-step explanation:
1. The formula to find selling price can be reversed to find cost;
Cost * ( 1 + Markup ) = Selling Price
2. Since we don't have cost but we have markup and selling price, we put those in to create our problem.
Cost * ( 1 + 130% ) = $77.77
3. Shift your percent to a decimal. Do this by moving the decimal two places to the left or by multiplying by 0.01.
Cost * ( 1 + 1.30 ) = $77.77
4. Simplify.
Cost *( 2.30 ) = $77.77
5. Remove the number in the parenthesis from both sides. Because the problem wants to multiply the cost, we will divide.
Cost / 2.30 = $77.77 / 2.30
6. Calculate the answer.
Cost = $33.81
Now that we have cost, we can find the markup. The formula for markup is:
Markup = Selling Price - Cost
1. Input your numbers into their proper spaces.
Markup = $77.77 - $33.81
2. Calculate your answer!
Markup = $43.96
Answer:
The markup is $43.95 ( approx )
Step-by-step explanation:
Let x be the cost price of the earring,
Given,
The earring is marked up 130 %,
Thus, the marked price of the earring = the cost price + 130 % of the cost price
= x + 130 % of x
[tex]=x+\frac{130x}{100}[/tex]
[tex]=x+1.30x[/tex]
[tex]=2.30x[/tex]
Since, here, the marked price = Selling price = $ 77.77,
[tex]\implies 2.30x= 77.77[/tex]
[tex]\implies x = \frac{77.77}{2.30}=\frac{7777}{230}=33.8130435\approx 33.81[/tex]
So, the approximate cost price of the earring = $ 33.81,
And, the markup = 130 % of the cost price = 130% of 33.81
[tex]=\frac{130\times 33.81}{100}[/tex]
[tex]=43.953\approx 43.95[/tex]
