I am having a hard time understanding the language in the problem.
Thanks in advance!
A retailer bought a shirt at wholesale and marked it up 80% to its initial retail price of $45. By how many more dollars does he need to increase the price to achieve a 100% markup?
a. 1
b. 2
c. 3
d. 4
e. 5
answer is: e
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preciousrain7
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ritz
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read it actively (start thinking mentally as you read the problem) & you will not have any problem what so ever..
A retailer bought a shirt at wholesale (X) and marked it up 80% (marked it up 80%, i.e. 180X/100)to its initial retail price of $45 (hmm, so that means 180X/100 = 45). By how many more dollars does he need to increase the price to achieve a 100% (what is 200X/100)markup?
Once you read it this way, you will know that you need to find
first, X
Then 2X
& then 1.8X is to be substracted to get the annswer as out of 2X, 1.8X increase has already been done.
Hope this helps.
regards
Ritz
A retailer bought a shirt at wholesale (X) and marked it up 80% (marked it up 80%, i.e. 180X/100)to its initial retail price of $45 (hmm, so that means 180X/100 = 45). By how many more dollars does he need to increase the price to achieve a 100% (what is 200X/100)markup?
Once you read it this way, you will know that you need to find
first, X
Then 2X
& then 1.8X is to be substracted to get the annswer as out of 2X, 1.8X increase has already been done.
Hope this helps.
regards
Ritz
-
preciousrain7
- Senior | Next Rank: 100 Posts
- Posts: 78
- Joined: Thu Dec 06, 2007 4:16 pm
- Location: NYC, NY
- Thanked: 2 times
Thanks! Ill try the technique for future questions!ritz wrote:read it actively (start thinking mentally as you read the problem) & you will not have any problem what so ever..
A retailer bought a shirt at wholesale (X) and marked it up 80% (marked it up 80%, i.e. 180X/100)to its initial retail price of $45 (hmm, so that means 180X/100 = 45). By how many more dollars does he need to increase the price to achieve a 100% (what is 200X/100)markup?
Once you read it this way, you will know that you need to find
first, X
Then 2X
& then 1.8X is to be substracted to get the annswer as out of 2X, 1.8X increase has already been done.
Hope this helps.
regards
Ritz
-
netigen
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I agree with the poster the question is not correctly worded and it should read "marked it up 80% of its initial retail price to $45" otherwise one can easily read the Q as saying that the 80% markup happened on the original price of $45preciousrain7 wrote:I am having a hard time understanding the language in the problem.
Thanks in advance!
A retailer bought a shirt at wholesale and marked it up 80% to its initial retail price of $45. By how many more dollars does he need to increase the price to achieve a 100% markup?
a. 1
b. 2
c. 3
d. 4
e. 5
answer is: e
-
preciousrain7
- Senior | Next Rank: 100 Posts
- Posts: 78
- Joined: Thu Dec 06, 2007 4:16 pm
- Location: NYC, NY
- Thanked: 2 times
netigen wrote:that was my problem too. it confused the hell out of me!preciousrain7 wrote:I am having a hard time understanding the language in the problem.
Thanks in advance!
A retailer bought a shirt at wholesale and marked it up 80% to its initial retail price of $45. By how many more dollars does he need to increase the price to achieve a 100% markup?
a. 1
b. 2
c. 3
d. 4
e. 5
answer is: e
I agree with the poster the question is not correctly worded and it should read "marked it up 80% of its initial retail price to $45" otherwise one can easily read the Q as saying that the 80% markup happened on the original price of $45
