The markup on an external hard drive is $22. Find the cost of the hard drive if the markup is 20% of the cost.
A) $18.33
B) $110.00
C) $26.40
D) $4.40

Question

Quizplus · Accepted Answer

Let's use the formula:

markup = (selling price - cost) / cost

We know that the markup is $22 and that it represents 20% of the cost. So we have:

22 = (selling price - cost) / cost

0.20 = markup / cost

We can use the second equation to find the cost:

cost = markup / 0.20

cost = 22 / 0.20

cost = 110

Therefore, the cost of the hard drive is $110.

The Markup on an External Hard Drive Is $22