Question

The markup on electronic products in a retail store is 35%. If the store makes 227.50 profit from the sale. How much is the wholesale price of that product?
a. 79.63
b. 15.38
c. 650
d. 6.5

Answer 1

Answer:-

c. 650

How?

Electronic products markup percentage = 35%

Store makes profit after sale = ₹255.50

Wholesale Price = ?

Let the Wholesale price be = x

Formula of calculating profit (in rupees) = Wholesale Price ÷ 100 × Profit (in percentage)

So,

x ÷ 100 × 35 = Profit (in rupees)

x = Profit (in rupees) × 100 ÷ 35

x = 227.5 × 100 ÷ 35

x = 22750 ÷ 35

x = 650