A good was sold for $18,100.00
The good had a 6% markup on the cost.
How much did the good cost?
Setup Markup Equation:
Markup amount = Original Price x (1 + Markup %)
Divide each side of the equation by 1 + Markup % to isolate Original Price:
| Markup Amount | |
| 1 + Markup % |
| = |
| Original Price |
| 1 + Markup % |
| Original Price = | Markup Amount |
| 1 + Markup % |
Plugging in our known values, we get:
| Original Price = | $18,100.00 |
| 1.06 |
Original Price = $17,075.47
Final Answer
Original Price = $17,075.47
What is the Answer?
Original Price = $17,075.47
How does the Markup Markdown Calculator work?
Free Markup Markdown Calculator - Given the 3 items of a markup word problem, cost, markup percentage, and sale price, this solves for any one of the three given two of the items. This works as a markup calculator, markdown calculator.
This calculator has 3 inputs.
This calculator has 3 inputs.
What 3 formulas are used for the Markup Markdown Calculator?
Markup amount = Original Price x Markup %
Markup Amount = Final Price - Original Price
Original Price = Markup Amount/(1 + Markup %)
Markup Amount = Final Price - Original Price
Original Price = Markup Amount/(1 + Markup %)
What 6 concepts are covered in the Markup Markdown Calculator?
- cost
- an amount that has to be paid or spent to buy or obtain something
- margin
- the current level of an activity
- markdown
- how much less a companys selling price is than the amount the item costs the company.
- markup
- how much more a companys selling price is than the amount the item costs the company.
- markup markdown
- word problem
- Math problems involving a lengthy description and not just math symbols
