The manufacturing cost of a cell phone was $124. Sellers first marked up the cost by 20 percent. Sales were poor, so sellers decreased the markup to 15 percent. Calculate the old and new selling prices.

Question

jdoe0001 · Answer

well, what's 124 + ( 20% of 124)?    and also what's 124 + (15% of 124)?
$\bf \textit{keep in mind that } n\%\ of \ m = \cfrac{n}{100} \times m\
thus \qquad n\% \ of \ 124 = \cfrac{n}{100} \times 124$

wolfe8 · Answer

To every post about percentage, I like to remind that they are fractions of the number over 100 out of the whole original value. 

The initial value will always be 100%, so 100/100 * 124 is the original price. After 20% increase, it will 120/100 * 124. For decrease, you minus the percentage. But remember that after you get the old price, it will become the initial price for the next part of the question.

goformit100 · Answer

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