the selling price is $122.40 the mark up is 80% what is the cost to the store
1.8x = 122.4
x = $68.00
To find the cost to the store, we need to reverse the mark-up percentage calculation. The mark-up percentage represents the increase from the cost to the selling price.
Here's how you can calculate it step by step:
Step 1: Convert the mark-up percentage to a decimal. Divide the mark-up percentage by 100.
Mark-up percentage = 80% = 80/100 = 0.8
Step 2: Calculate the cost to the store.
Cost = Selling price / (1 + Mark-up percentage)
Cost = $122.40 / (1 + 0.8)
Cost = $122.40 / 1.8
Cost = $68
Therefore, the cost to the store is $68.