A retail jeweler sells a pair of gold earrings for $213.90. The jeweler uses a 130% markup based on cost. Based on this information, what was the wholesale cost of the earrings?

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Vin Ginge Profile
Vin Ginge answered
The wholesale cost can be regarded as 100%.
After a markup of 130% the retail price is equivalent to 230% (100 + 130) of the wholesale cost.
If the retail price = 213.90 then the wholesale price = 100 x (213.90/230) = $93.00
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muneer ahmed answered

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