The retail price of an item is $625.50. This includes a markup of three-quarters of the wholesale cost to the retailer. What is the wholesale cost?
A) $1094.63
B) $469.13
C) $834.00
D) $156.38
E) $357.43

Question

Quizplus · Accepted Answer

The retail price is the wholesale cost plus a markup of 75% of the wholesale cost. Let the wholesale cost be x. Then, x + 0.75x = $625.50, which simplifies to 1.75x = $625.50. Solving for x gives x = $625.50 / 1.75 = $357.43.

The Retail Price of an Item Is $625