Question

John sold a pair of jeans for R575.00( Vat inclusive). If his mark-up percentage as a percentage of cost is 25%, what is the cost price of the product

Answer 1

C = R460.00

Let's start by using algebra to solve for the cost price of the jeans.

Let's call the cost price "C".

We know that John's mark-up percentage as a percentage of cost is 25%, which means that he sold the jeans for 125% of their cost price.

So, we can set up an equation:

125% of C = R575.00

Now we need to convert 125% to a decimal by dividing by 100:

1.25C = R575.00

Finally, we can solve for C by dividing both sides by 1.25:

C = R460.00

Therefore, the cost price of the jeans was R460.00.