Curtis Company sets price equal to cost plus 50%. Recently, Curtis charged a customer a price of $150 for an item. What was the cost of the item to Curtis?
A) $50
B) $75
C) $100
D) $40
E) $80

Question

Quizplus · Accepted Answer

According to the given information, price = cost + (50% of cost)
$150 = cost + ($75)
Solving for cost,
cost = $150 - $75 = $75
Therefore, the cost of the item to Curtis was $75.

Curtis Company Sets Price Equal to Cost Plus 50