If an item sold with a 20% up mark and it sells for $1000, what was the original price? Show me the steps.?

Question

If an item sold with a 20% up mark and it sells for $1000, what was the original price? Show me the steps.?

Answer 1

If truly a 20% Markup, the orig price would be $1,200.  (1,000 x .20) + 1,000 = $1,200.

However, if you really mean a 20% discount from the PRICE, then the orig price would be $1,250.  Steps:  $1,000 / (1 - .20) or 1,000 / .80 = $1,250.

Edit:  a bit confusing as to the Questioners meaning re the "up mark" issue. If Sandy is right, the steps are as follows:

$1,000 / 1.20 = $833.33 for the orig price.

Answer 2

If you really meant mark up and not margin, then the price before the markup would be $833.33.

Original : $833.33

add 20% of this : $16.67

New price after markup $1,000.00