Answer:
$62.50
Step-by-step explanation:
We can write a proportion. We know that 50 is 80% of the marked up price since it was the original price before the 20% mark up. Let's call the marked up price x. We write equal ratios of [tex]\frac{80}{100}[/tex] comparing percent and [tex]\frac{50}{x}[/tex] comparing the 50 to the marked up price. We then set them equal.
[tex]\frac{80}{100} =\frac{50}{x}[/tex]
We then cross multiply across the equal sign from numerator to the opposite numerator.
80(x)=50(100)
80x=5000
We divide to find x.
x=62.5
