A Hardware Store's Rate of Mark-Up on Selling Price on a Line

question 284

Short Answer

A hardware store's rate of mark-up on selling price on a line of electric power tools is 27%. If the mark-up on a drill is $12.50:
a) What is the cost of the drill to the store?
b) What is the rate of mark-up on cost of the drill?

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Definitions:

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