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In the mark-up model, how is the list price found once the amount of mark-up is known?
AAdd the amount of mark-up to the original cost
BSubtract the amount of mark-up from the original cost
CMultiply the original cost by the amount of mark-up
DDivide the original cost by the amount of mark-up
Answer & Solution
Correct answer: A. Add the amount of mark-up to the original cost
1. The mark-up model builds the list price from two known pieces.
2. Those two pieces are the original cost and the amount of mark-up.
3. Adding the amount of mark-up to the original cost gives the list price charged to the customer.
_Source: OpenStax Elementary Algebra (CC BY 4.0), Ch 3 "Math Models", section 3.2 Solve Percent Applications_
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