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Bismark Tractor put a markup of 26% on cost on a part for which it paid $450. Find the markup

Sagot :

Let's call the markup as x. The markup is the difference in cost between your selling price and the amount you spent to make your product. Bismark Tractor put a markup of 26% on cost, which means that the selling price was 26% more than the cost price. Since he paid $450 for the part, this gives to us the following equation

[tex]450+x=(1+0.26)\cdot450[/tex]

Solving it for x, we have

[tex]\begin{gathered} 450+x=(1+0.26)\cdot450 \\ 450+x=1.26\cdot450 \\ x=1.26\cdot450-450 \\ x=0.26\cdot450 \\ x=117 \end{gathered}[/tex]

The markup was $117.

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