Lanray saysSeptember 6, 2023 at 2:06 amI still cant grasp question 5, why did we use ((100/120)*600)Log in to Reply

John Moffat saysSeptember 6, 2023 at 3:43 pmThe mark-up is 20% of cost. So for every $100 cost they add on $20 and the selling price is $120.Therefore the cost is $100 for every $120 of selling price. So for a selling price of $600 they need the cost to be 100/120 x $600.Log in to Reply

zunaibkhan says

i got 100% in 1st attempt. awesome

Lanray says

I still cant grasp question 5, why did we use ((100/120)*600)

John Moffat says

The mark-up is 20% of cost. So for every $100 cost they add on $20 and the selling price is $120.

Therefore the cost is $100 for every $120 of selling price. So for a selling price of $600 they need the cost to be 100/120 x $600.