If a customer pays $40 for a shirt that's been marked up 100 percent over cost,what price did the retailer pay for it?

Name: If a customer pays $40 for a shirt that's been marked up 100 percent over cost,what price did the retailer pay for it?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The retailer paid $20 for the shirt. A 100 percent markup means the cost is doubled to arrive at the selling price, so if the selling price is $40, the original cost was half of that, which is $20.

If a Customer Pays $40 for a Shirt That's Been