Question

a set of bike racks cost $356. The price is marked up to make 40% profit. calculate the markup price of the bike racks

Answer 1

Answer

the mark up is an additional money they charge you like a tax the answer is 11.2

Step-by-step explanation:

you have to put 40/x 356/100 then cross multiply then you get 4000/356 then you divide and you get 11.23.

Answer 2

Answer: 140%

Step-by-step explanation:

First, you must find out how much you'll be making. To do this, multiply 356 by .4 (to get 142.4). If you're making 40% profit, you must add 142.4 to 356 (or else you'd be losing money!). We now know whoever sold these bike racks made 498.4 dollars. Divide this by 356 and get 1.4 which converts to a 140% markup up price (also meaning the price the racks were sold at is 1.4 times the price bought).

Hope this answers your question! Best of luck.