x is the cost of the TV
Markup - x * 20/100
Sale price = Markup + cost
= x * 20/100 + x
= 1.2x
M/S = 0.2x/1.2x = 100/6 = 16 2/3
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Source: Beat The GMAT — Problem Solving |
If cost is x...the markup is 20x/100
Which would make the Selling Price x + 20x/100 = 120x/100
So markup as a % of SP =[ (20x/100) / (120x/100) ]*100
= 100/6 = 16 2/3%
Which would make the Selling Price x + 20x/100 = 120x/100
So markup as a % of SP =[ (20x/100) / (120x/100) ]*100
= 100/6 = 16 2/3%
