cost to store: ? Markup: 80% Selling price: $122.4 what is the cost of the store

Answer 1

Julia,

Let’s pretend the store sells lamps.

This question tells us that the price the store pays for a lamp, plus an 80% markup, equals $122.40.

Let’s translate that into an equation that uses the variable x to represent the cost of the lamp.

x + .80x = 122.40

1.80x = 122.40

/1.80 /1.80

x = 68

So the cost of the lamp to the store is $68.