Help - Percent Used to Calculate Markup & Sales Tax

by puddin
(illinois)

$Wholesale Price, % Markup, % Sales Tax: You Pay It All$

Wholesale Price, % Markup, % Sales Tax: You Pay It All

if a tv retails for $207.48 including a 5% tax, what is the wholesale price if it was marked up by 30%?

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Feb 15, 2011

Percent Used to Calculate Markup & Sales Tax
by: Staff

The question:

if a tv retails for $207.48 including a 5% tax, what is the wholesale price if it was marked up by 30%?

The answer:

Write the equation:

(Wholesale price) + (30% Markup) + (5% Sales Tax) = (Retail Price)

(Wholesale price) + (30% Markup) + (5% Sales Tax) = $207.48

x = wholesale price unknown

----------------------------------------------------------
x + 30%*x = price before the sales tax is added
----------------------------------------------------------

x + 30%*x + 5%*(price before the sales tax is added) = 207.48

x + 30%*x + 5%*( x + 30%*x) = 207.48

Solve the equation:

x + 30%*x + 5%*( x + 30%*x) = 207.48

Convert each % to a decimal format (divide each % by 100)

x + 0.3*x + 0.05*( x + 0.3*x) = 207.48

Use PEMDAS order to simplify the expression: Parentheses, Exponents, Multiplication, Division, Addition, Subtraction

x + 0.3*x + 0.05*( x + 0.3*x) = 207.48

Use PEMDAS order to simplify the expression: PARENTHESES, Exponents, Multiplication, Division, Addition, Subtraction

---------------------------
( x + 0.3*x) = 1.3*x
---------------------------

x + 0.3*x + 0.05*(1.3*x) = 207.48

x + 0.3*x + 0.05*1.3*x = 207.48

Use PEMDAS order to simplify the expression: Parentheses, EXPONENTS, Multiplication, Division, Addition, Subtraction

No exponents exist

Use PEMDAS order to simplify the expression: Parentheses, Exponents, MULTIPLICATION, Division, Addition, Subtraction

---------------------------
0.05*1.3*x = 0.065*x
---------------------------

x + 0.3*x + 0.05*1.3*x = 207.48

x + 0.3*x + 0.065*x = 207.48

Use PEMDAS order to simplify the expression: Parentheses, Exponents, Multiplication, DIVISION, Addition, Subtraction

No parts of the equation require division

Use PEMDAS order to simplify the expression: Parentheses, Exponents, Multiplication, Division, ADDITION, Subtraction

x + 0.3*x + 0.065*x = 207.48

--------------------------------------
x + 0.3*x + 0.065*x = 1.365*x
--------------------------------------

1.365*x = 207.48

The last step: divide each side of the equation by 1.365

1.365*x = 207.48

1.365*x/1.365 = 207.48/1.365

(1.365/1.365)*x = 207.48/1.365

(1)*x = 207.48/1.365

1*x = 207.48/1.365

x = 207.48/1.365

x = $152

the final answer: the original wholesale price was $152.

(A buyer will pay the $152 plus an additional $55.48 to cover the 30% markup and the 5% sales tax.)

Check the work. Substitute $152 for every x in the original equation.

x + 0.3*x + 0.05*( x + 0.3*x) = 207.48

152 + 0.3*152 + 0.05*( 152 + 0.3*152) = 207.48

207.48 = 207.48

Since 207.48 does = 207.48, the solution to the equation is correct.

Thanks for writing.

Staff
www.solving-math-problems.com

Feb 15, 2011

thank u
by: Anonymous

thank you!

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Help - Percent Used to Calculate Markup & Sales Tax

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