A store makes a profit of $15 on a necktie after a markup of 60%. What is the selling price of the necktie? Please show the work

Question

i really need help with this problem, please try to solve it as soon as possible!

Answer 1

0.6n = 15

n = $25

Answer 2

Hi Lizz H,

This is a question about ratios and percentages at the core. If set the problem up as a ratio we have a part to whole ratio of $15/? to 60%/100%. When we look at these ratios we should see a relationship between 60 and 15. 60/4 =15. Well we can make an equivalent ration by dividing both the top and the bottom of 60/100 by 4. 60/4 is 15 and 100/4 is 25 so the neck tie sells for $25.