Word Problem/ Percents: find wholesale price on tape player

[Gretta99]

A stereo store marks up each item it sells 60% above wholesale price. What is the wholesale price on a cassette player that retails at $144?

I need help starting this problem, so setting it up. We're supposed to solve it, so I want to set it up as an equation. Is this one where I would list it as
144=.6x or 144/x=.6x or am I on the completely wrong path?

Thanks a ton!

 

[Loren]

Re: Word Problem/ Percents

Wholesale price + 60% of wholesale price = retail price.

 

[royhaas]

Re: Word Problem/ Percents

The problem statement says clearly that \(\displaystyle retail = 1.6 \times wholesale\).