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Stone's Jewelry marks up diamond rings $4,500.00. This represents a 50% markup on cost. What is the

Mathematics
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Stone's Jewelry marks up diamond rings $4,500.00. This represents a 50% markup on cost. What is the cost of the rings?

Oct 1st, 2014

Let the cost of the rings = 100%

Then the selling price = 100 + 50 = 150 %

But selling price = $4500

So 150% = $4500

And 100% = 100/150  x $4500

                  =$3000

Cost = $3000        (check: $3000 + 50% of $3000=$ 4500)

Oct 1st, 2014

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