Use the given information to find the original price:
Retail Price $99
Markup percent 80%
Don't think so ....
let the cost price be x
selling price (retail price) = 99
there was a 80% markup on cost price
1.8x = 99
x = 99/1.8 = 55
check:
cost price = $55
markup = .8(55) = $44
Selling price = 55 + 44 = 99
$80.19
No. U would do 99 times 80%. So that means it would be 99 times .80 which equals 79.20. Then, you would subtract 79.20 from 99 and your answer would be 19.80 as the original price
To find the original price, you need to undo the markup percentage. In this case, the markup percentage is 80%.
To calculate the original price, you can follow these steps:
1. Convert the markup percentage to a decimal by dividing it by 100: 80% / 100 = 0.8.
2. Add 1 to the decimal value obtained in step 1: 1 + 0.8 = 1.8.
3. Divide the retail price by the value obtained in step 2 to find the original price: $99 / 1.8 = $55.
Therefore, the original price of the item is $55.