Question

A boat is marked up 20% on the original price the original price was 50$ what is the sale price of the boat before sales tax

Answer 1

$60

Explanation:

We can create a proportion to find the markup from original price to the marked up price. A proportion is an equation where two ratios are set equal to each other. We create two fractions using the prices and percents. It is marked up by 20% so we pay 120% of $50.

`(120)/(100) =(x)/(50)`

We begin solving by cross multiplying numerator to denominator of each fraction.

`120(50)=100(x)\\6000=100x\\(6000)/(100)=(100x)/(100)  \\60=x`