Bob has some 10 lb weights and some 3 lb weights. Together, all his weights add up to 50 lbs. If x represents the number of 3 lb
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Markup is the amount added to the cost price of goods to cover overhead and profit.
Sue’s Corner Market has a markup of 60% on bottled water.
Let us say original price was $x.
Now price after markup is $2.
So we can make an equation like:
original price + markup price = price after markup
x + 60% of x =2
dividing both sides by 1.6
x= 1.25
So original price was 1.25 dollars.