Vic's Department Store bought a pewter serving set for $1,250. Vic wants to markup the set at 60% of the selling price. The selling price of the pewter serving set should be:

Question

Vic's Department Store bought a pewter serving set for $1,250.  Vic wants to markup the set at 60% of the selling price.  The selling price of the pewter serving set should be:

Answer: $3,125 How to to solve this? Confused?

Reiny · Answer

Let the selling price be $x If the markup is 60% based on the selling price, then .4x = 1250 x = 1250/.4 = 3125