Answer:
$43.96
Step-by-step explanation:
1. The formula to find selling price can be reversed to find cost;
Cost * ( 1 + Markup ) = Selling Price
2. Since we don't have cost but we have markup and selling price, we put those in to create our problem.
Cost * ( 1 + 130% ) = $77.77
3. Shift your percent to a decimal. Do this by moving the decimal two places to the left or by multiplying by 0.01.
Cost * ( 1 + 1.30 ) = $77.77
4. Simplify.
Cost *( 2.30 ) = $77.77
5. Remove the number in the parenthesis from both sides. Because the problem wants to multiply the cost, we will divide.
Cost / 2.30 = $77.77 / 2.30
6. Calculate the answer.
Cost = $33.81
Now that we have cost, we can find the markup. The formula for markup is:
Markup = Selling Price - Cost
1. Input your numbers into their proper spaces.
Markup = $77.77 - $33.81
2. Calculate your answer!
Markup = $43.96
