- Markup = 40%
- Selling Price = $50.75
To Find:
- Wholesale Price
Formula:
Selling Price = Cost Price + ( Markup Percentage * Cost Price ) / 100
Calculation:
Let the wholesale price be x.
$$50.75 = x + (40*x)/100$$
$$50.75 = x + 2x/5 $$
$$5 = 3x/5 $$
Multiply both sides by 5
$$5 *5= 3x $$
$$25 = 3x$$
Dividing both sides by 3
$$x = 25/3 $$
$$x = 8.33$$
Wholesale price of the book = $8.33.