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.
