A store owner buys clothes at wholesale and adds 80% to the wholesale price to set the retail price. The retail price of a pair of pants is $36.00. What is the wholesale price?
In 1999 the circulation of a local newspaper was 24,600. In 2000 its circulation was 25,830. What percent increase is this?
1.80x = 36.00
so find x.
actual increase: 25830-24600 = 1230
1230/24600 = 0.05 = 5%
To find the wholesale price, you can follow these steps:
Step 1: Let's assume the wholesale price is 'W'.
Step 2: The store owner adds 80% to the wholesale price, which means the retail price is 180% (100% + 80%) of the wholesale price.
Step 3: Set up an equation: 180% of the wholesale price is equal to $36.00.
180% * W = $36.00
Step 4: Convert 180% to its decimal form by dividing it by 100: 1.8
1.8 * W = $36.00
Step 5: Divide both sides of the equation by 1.8 to isolate W:
W = $36.00 / 1.8
Step 6: Simplify the right side of the equation:
W = $20.00
Therefore, the wholesale price of a pair of pants is $20.00.
To find the wholesale price, we'll first calculate how much the store owner added to the wholesale price to get the retail price.
We know that the store owner adds 80% to the wholesale price. This means the retail price is 100% + 80% = 180% of the wholesale price.
Let's denote the wholesale price as "W". The retail price is 180% of W, which can be expressed as 1.8W.
Given that the retail price is $36.00, we can set up the equation:
1.8W = $36.00
To solve for W, divide both sides of the equation by 1.8:
W = $36.00 / 1.8
W = $20.00
Therefore, the wholesale price of the pair of pants is $20.00.