Question

Bill's Furrier marks up mink coats $3,000. This represents a 50% markup on cost. What is the cost of the coats?

Answer 1

if the original cost price is 'x', then,
3000 = x + (50% of x)

can you solve this?

Answer 2

Since 3000 is a 50% increase in cost, 3000 = .5x
The question doesn't ask for the original cost, but for the new cost,
So the new cost, x' = x + 3000

Answer 3

@xcrypt - i think 3000 is the final selling price, including the mark-up.

Answer 4

hmm, okay