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Old 06-07-2006, 12:39 AM
snazzlefrag snazzlefrag is offline
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Quote:
Originally Posted by wfauchier
Your original problem:
A new table has a retail selling price of $1000, and the markup percentage on the selling price is 60%. What is the wholesale cost?
Step by step: (60% = 60/100 = .60 = .6)
x + .6x = 1000
1.6x = 1000
x = 1000/1.6
x = 625 Wholesale cost


Hi wfauchier (and Michelle),

There won't be any question as difficult as that one on the exam.

They will either give you a nice round number as the dollar amount AND/OR a percentage that is easy to figure out. So the calculations can be done quickly and easily in your head.

Please don't lose any sleep worrying about the markup questions.

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