Question

Item retailing for $4,500.00 and is marked up 100%, what is the cost and how does one arrive at the answer?

Answer 1

Hoot! You just asked your first question! Hang tight while I find people to answer it for you. You can thank people who give you good answers by clicking the 'Good Answer' button on the right!

Answer 2

100% is just the price that it already is., so if it is marked UP 100%, you just add the price that it already was, so $4,500+100%=$4,500+$4,500=$9,000

Answer 3

good?

Answer 4

No, but thank you. The selling price is $4,500. The store marked up the item by 100% - I need to find what the store paid for the item

Answer 5

I don't think the store received the item for $0.00

Answer 6

haha oh ok. then you just divide by 2, because then 4,500 would be 200%, so 100%=2,250

Answer 7

Why by 2..I'm so confused?????

Answer 8

I need to show work for a class....so basically from what I'm getting is The rate of selling price is 100% and the rate of markup is 100% so you add the two together for a rate of cost = 200% is that correct?

Answer 9

because if they marked it up by 100%, then that means that 4,500=200%. therefore, 100% is 4,500/2, which is the price they originally got. it's easier to explain the other way.

A store buys this product for $2,250, and want to sell it for a major profit, so they increase the price by 100%. if 100% is the price that they bought it for, then 2,250+100%=2,250+2,250=4,500.

Answer 10

Okay - thank you sooooooooooooooooooooooooo much. Have a great day.

Answer 11

haha can I have a medal??

Answer 12

ABSOLUTELY - if you tell me how to do it...first time on here.

Answer 13

next to any of my answers there should be a blue button that says "good answer". that's it!

Answer 14

Bloody hell ...no blue buttom w/good answer...now what? Trying to press the picture of the medal thingy and no luck.

Answer 15

to the right and directly above my answer? do you see where it says "zero medals for this answerer"?