To find out the cost of an item at a retail store, given that the retailer marks up their clothing by 27% over wholesale prices, we need to calculate the markup amount and add it to the wholesale price.
Markup amount = 27% of wholesale price
Markup amount = 0.27 * wholesale price
Now, let's find the wholesale price:
Wholesale price + Markup amount = Retail price
Wholesale price + 0.27 * wholesale price = $23.75
Combining the terms with the wholesale price:
1.27 * wholesale price = $23.75
Dividing both sides by 1.27 to solve for the wholesale price:
wholesale price = $23.75 / 1.27
wholesale price ≈ $18.70
Therefore, the item would cost approximately $18.70 at a retail store.
A retailer marks up their clothing 27% over wholesale prices. What would an item priced $23.75 cost at a retail store?
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