Retail prices in a department store are obtained by marking up the wholesale price by 60 %. that is, retail price is obtained by adding 60 % of the wholesale price to the wholesale price.
(a) what is the retail price of a suit if the wholesale price is $200?
(b) what is the wholesale price of a pair of jeans if the retail price is $80?

The retail price of the suit is $320 and the wholesale price of a pair of jeans is $50

Step-by-step explanation:

Considering:

So,  x= y +60%y

x= y +0,60y

x=1,60y

SUIT: In the case of the suit ,  the retail price is

x=1,60 * 200

x=320

The retail price of the suit is $320

PAIR OF JEANS: In the case of the pair of jeans we are looking for the wholesale price. So we have to isolate the y

y=x/1,60

y=80/1,60=50

The wholesale price of a pair of jeans is $50

interest rate - 12.000%  

final payment - $355.40