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In a certain country, the retail price includes a value added tax of p

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In a certain country, the retail price includes a value added tax of p  [#permalink]

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New post 20 Dec 2018, 13:28
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In a certain country, the retail price includes a value added tax of 12.5% percent of the sum of the wholesale cost and the markup of an item. If the value added tax on a certain jacket is 6 shillings, what is the wholesale cost of a jacket in shillings?

(1) The markup represents 50 percent of the wholesale cost.

(2) The markup of the jacket is 16 shillings.

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Re: In a certain country, the retail price includes a value added tax of p  [#permalink]

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New post 20 Dec 2018, 20:57
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1. markup = 50% of wholelsale cost, .125(wholesale+markup)=6-->wholesale+markup = 48--> wholesale = 2/3*48 = $32--> sufficient

2. markup = 16 shillings, .125(wholesale+16)=6--> wholesale + 16 = 48 --> wholesale = $32-->sufficient
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Re: In a certain country, the retail price includes a value added tax of p   [#permalink] 20 Dec 2018, 20:57
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In a certain country, the retail price includes a value added tax of p

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