Guys I've started maths after a long time so having a few problems here.
I have a question,
A wholesaler wants to establish a list price for an item so that his selling price gives a trade discount of 10% for the list price. If he makes a mark up of 20% of this selling price and if his cost is $160 what list price should be established.
Selling price = list price - selling price * 10%
Cost = 160
Also selling price = 160 + 160 * 20%
SP = 192
So we can solve the first eq:
192 = lp - (192 * 10/100)
192 + 19.2 = lp
LP = 211.2