The formula P = C + 0.6C gives the price P of jewelry after a 60% mark-up on the original cost C paid by the jeweler. If the jeweler pays $154 for a piece of jewelry, what is the price after mark-up?

Question

anonymous · Answer

Simplifying, you get P=1.6C. If the jeweler pays $154 (the cost C) then the price P=1.6C=1.6($154)=$246.40. To solve these word problems, identify what variable represents what quantity and plug in the numbers given accordingly.