Need as soon as possible. +extra points

don's fishing sells fishing lures for $1.88 after marking them up 380% based on cost. what is the markup of each lure to the nearest cent? (hint: find the cost first.)

$1.88 is our amount after the 380% is added! 

$1.88 - 380%*x = x

Note, that when you are working with percents in a problem you need to convert the percent into a decimal value in order to properly work with it in an equation like the one above. 

So, it will look like this: 

$1.88 - 3.8x = x

Now onto explaining how I derived this equation in the first place, because it doesn't help you if you don't know how to do it yourself. 

How a percent problem works is if you are taking some original price x, and increasing it by 380% you would take 380% of the item, and then adding it to the item. To take 380% of an item you would need to multiply the number by 380% (3.8). So, if you translate that into math it looks like this: 

x + 380%*x = y

Y, in this case is $1.88. In other words it is the price AFTER you've added 380% to the cost. So I started to solve for x by subtracting 380%*x on both sides leaving us with this: 

$1.88 - 3.8x = x

We need to solve the equation for x by adding 3.8x on both sides. 

$1.88 = 3.8x + x

Combine like terms. 

$1.88 = 4.8x 

Divide both sides by 4.8. 

$1.88/4.8 = x 

So our original price is $1.88/4.8! 

The question asks for the 380% * x part of the problem. 

So we take our answer and multiply it by 3.8. 

($1.88/4.8)*3.8 = $1.49 mark up! 

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Step-by-step explanation: