Math Problem Statement
Solution
The problem in the image states:
- Selling price: $520
- Marked down by: 10%
- Cost: $360
- Objective: Find the markup from the cost to the sale price.
Let's go through the solution again to ensure accuracy.
Step 1: Understand the Discounted Price and Original Price
Since the item was marked down by 10%, the sale price of $520 represents 90% of the original price. Let’s call the original price .
Solving for :
So, the original price was approximately $577.78 before the markdown.
Step 2: Calculate the Markup from Cost to Sale Price
Markup is found by comparing the sale price to the original cost:
Final Answer:
The markup is $160.
Let me know if you have any questions or need additional details!
Here are some related questions for further practice:
- How would you find the markup percentage based on the cost price?
- If the markup percentage was instead 25% on the cost, what would be the sale price?
- How does a markdown affect profit when there is already a markup on the item?
- How would you calculate the original price if only the sale price and markdown percentage were known?
- What would happen to the sale price if the item were marked down by 20% instead of 10%?
Tip: Markup calculations can vary depending on whether they are based on cost or sale price, so double-check the base value in such problems.
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Math Problem Analysis
Mathematical Concepts
Percentage
Markup Calculation
Discount
Formulas
Original Price Calculation: 0.9 * Original Price = Sale Price
Markup Calculation: Sale Price - Cost
Theorems
Percentage theorem
Suitable Grade Level
Grades 7-8