Question

Markup = original cost × percentage markup selling price = original cost + markup The manufacturing cost of a cell phone was $124. Sellers first marked up the cost by 20 percent. Sales were poor, so sellers decreased the markup to 15 percent. Calculate the old and new selling prices.
a.old price: $170.00; new price: $148.80
b.old price: $142.60; new price: $148.80
c.old price: $148.80; new price: $142.60

Answer 1

C.) Old Price: $148.80; New Prices: $142.60

Using The Formula Given

M = O x P = O + M

Markup Value After 20% Is $148.80

Markup Value After 15% is $142.60