An Item Costing $50 Was Marked Up 40% of the Cost

question 192

Short Answer

An item costing $50 was marked up 40% of the cost price and then reduced for a quick sale by 40% of the selling price. What was the sale price?

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Definitions:

Second Bank

Refers to the Second Bank of the United States, a federal institution that operated from 1816 to 1836 and played a pivotal role in early American financial history.

"King Andrew I"

A derisive nickname for Andrew Jackson, the seventh President of the United States, referring to his authoritarian political style.

American System

An economic plan that played a prominent role in American policy during the first half of the 19th century, advocating for a strong banking system, protective tariffs, and internal improvements.