Solve the problem and show your solution (round it off into 2 decimal places)
(Topic: BUYING AND SELLING & MARKUP AND MARGIN)
1. A certain product sold for ₱34,300 has a 18% markup on cost. How much is the cost
of the product?
(Topic: BUYING AND SELLING & MARKUP AND MARGIN)
1. A certain product sold for ₱34,300 has a 18% markup on cost. How much is the cost
of the product?
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Answers & Comments
₱29,067.80
Step-by-step explanation:
Let x = cost, therefore:
x + 0.18x = 34,300
1.18x = 34,300
x = 34,300 / 1.18
x= 29,067.80
Checking:
29,067.80 x 1.18 = 34,300
Hope it helps.
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