Question

Assume markup is based on cost solve for the actual cost selling price $600 markup percent on cost 35% what is the actual cost

Answer 1

Alright, Lets get started.

selling price = cost + markup * cost

The given selling price = $ 600

markup percent on cost = 35 %

600 = cost + 35% cost

600 = cost + 0.35 cost

600 = 1.35 cost

Dividing 1.35 on both sides

600/1.35 = cost

cost = 444.44 $

Hence the actual cost = 444.44 $ : Answer

Hope it will help :)