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# A retailer bought a shirt at wholesale and marked it up 80% to its ini

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A retailer bought a shirt at wholesale and marked it up 80% to its ini  [#permalink]

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19 Nov 2011, 11:47
1
5
00:00

Difficulty:

15% (low)

Question Stats:

83% (00:50) correct 17% (01:11) wrong based on 274 sessions

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A retailer bought a shirt at wholesale and marked it up 80% to its initial price of \$45. By how many more dollars does he need to increase the price to achieve a 100% markup?

A. 1
B. 2
C. 3
D. 4
E. 5

OPEN DISCUSSION OF THIS QUESTION IS HERE: a-retailer-bought-a-shirt-at-wholesale-and-marked-it-up-130759.html

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Re: A retailer bought a shirt at wholesale and marked it up 80% to its ini  [#permalink]

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19 Nov 2011, 12:38
2
manalq8 wrote:
A retailer bought a shirt at wholesale and marked it up 80% to its initial retail price of \$45. By how many more dollars does he need to increase the price to achieve a 100% markup?
A)1

b)2

C)3

d)4

E)5

x is the buy price. x+80%x = 1,8x is the sale price = 45 so x, the buy price becomes 45/1,8=25
%100 mark up means x+100%x=2x so 50. 50-45=5
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Re: A retailer bought a shirt at wholesale and marked it up 80% to its ini  [#permalink]

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19 Nov 2011, 12:41
2
If an 80% markup takes the price to \$45, the initial cost must have been 45/1.8 =\$25. Therefore if \$5 is added to the selling price, the markup will be 100%.

(E)
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Re: A retailer bought a shirt at wholesale and marked it up 80% to its ini  [#permalink]

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24 Nov 2011, 19:32
1
marked it up 80% to its initial retail price of \$45 means that the marked price of the shirt is = 0.8 *45 = 36
So let wholesale price be X, therefore X+ 80%X=36, or 1.8X =36 which means X =(36/1.8) =20
in order to increase to 100% of mark up price, the sale price must be 20*2 = 40.
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Re: A retailer bought a shirt at wholesale and marked it up 80% to its ini  [#permalink]

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25 Nov 2011, 01:20
wiilwaal wrote:
marked it up 80% to its initial retail price of \$45 means that the marked price of the shirt is = 0.8 *45 = 36
So let wholesale price be X, therefore X+ 80%X=36, or 1.8X =36 which means X =(36/1.8) =20
in order to increase to 100% of mark up price, the sale price must be 20*2 = 40.

I think the equation is

initial cost price+markup

Plz correct me if i am wrong
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Re: A retailer bought a shirt at wholesale and marked it up 80% to its ini  [#permalink]

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25 Nov 2011, 03:34
1.8x=45
therefore x = 25
100% of 25 is 25
S.P. = 50
Dif 50-45=5
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Re: A retailer bought a shirt at wholesale and marked it up 80% to its ini  [#permalink]

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30 Apr 2015, 03:42
manalq8 wrote:
A retailer bought a shirt at wholesale and marked it up 80% to its initial price of \$45. By how many more dollars does he need to increase the price to achieve a 100% markup?

A. 1
B. 2
C. 3
D. 4
E. 5

OPEN DISCUSSION OF THIS QUESTION IS HERE: a-retailer-bought-a-shirt-at-wholesale-and-marked-it-up-130759.html
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Re: A retailer bought a shirt at wholesale and marked it up 80% to its ini  [#permalink]

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17 Jul 2018, 23:16
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Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).

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Re: A retailer bought a shirt at wholesale and marked it up 80% to its ini &nbs [#permalink] 17 Jul 2018, 23:16
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