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Unread 12-14-2010, 04:45 PM   #1
Nikose Tyris
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Ffffff- A new problem emerges [Math]
I need help with my homework again.

The Question:

The mark-up on an item selling for 74.55 is 40% of cost.
A) What is the cost of the item?
B) What is the rate of Mark-up based on the selling price?


No matter how I dig into this equation, I can't figure out the cost. :/ I'm not sure what I'm doing wrong. Can anyone post just the next step of this equation for me?

Alternatively solve and show your work for bonus marks.

Edit: I'm asking because the exam is in 1 hour, and there are apparently 6 marks worth of questions using this format. I'd like to get those 6 marks. :p


Edit 2: Closable. I just figured it out.

Selling Price = cost + markup
$74.55 = cost + markup
$74.55 = cost + markup rate * cost
$74.55 = cost + .40(cost)
$74.55 = 1.40 * cost
$74.55/1.40 = cost
$53.25 = cost
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Last edited by Nikose Tyris; 12-14-2010 at 05:21 PM.
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Unread 12-14-2010, 09:25 PM   #2
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You forgot to carry the 1
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The only foil I've ever seen to this is in the first Power Rangers movie, where after all of the posing and flipping, they realized, "Oh, snap! They actually ran away on us!" like it wasn't the reasonable thing to do and because it'd never happened before.
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Unread 12-14-2010, 09:36 PM   #3
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...I don't think I did, but you gave me a little panic attack there.
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Unread 12-14-2010, 09:38 PM   #4
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...I don't think I did, but you gave me a little panic attack there.
No, you definately forgot to carry the 1.
And come on, now... Not dividing by Pi? That's just lazy.
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Originally Posted by bluestarultor View Post
The only foil I've ever seen to this is in the first Power Rangers movie, where after all of the posing and flipping, they realized, "Oh, snap! They actually ran away on us!" like it wasn't the reasonable thing to do and because it'd never happened before.
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Unread 12-15-2010, 04:25 AM   #5
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Didn't state all the axioms you were using. Working is incomplete.
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Unread 12-16-2010, 04:22 AM   #6
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God, me doing so goddamn mediocre in my engineering math classes has blinded me to the level of math actually used by most people.
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