Question

a store marks up the wholesale price of a skateboard by 112%. The retail price is $35. What is the wholesale price of the skateboard?

Answer 1

Answer is $31.25
Step by step
We know mark up is 112%
We know sell price (retail) after markup
We are looking for wholesale (original price)
So 112% of x = $35
1.12x = $35
Divide both sides by 1.12 to isolate x
X= 31.25