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Math Help - mark up

  1. #1
    Member
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    windsor ont cAN
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    mark up

    Cost : 6.60

    Markup: ?

    Selling price : ?

    Rate of mark up : ?

    Rate of mark up


    on selling price : 40%

    i'm stuck on this question because the selling price isn't given and am having loads of trouble on how to find it
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  2. #2
    MHF Contributor

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    You are not just told the cost, you are also told that the markup is 40% of the selling price. Let M be the markup. Then the selling price is 6.60+ M and 40% of that is (0.4)(6.6+ M). Since the markup is 40% of the selling price, 0.4(6.5+ M)= M. Solve that equation for M and the rest of the problem should be easy.
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