An artist receives 20% royalty on the retail price of his recordings. If he receives $36,000 in royalties, what is the dollar amount of the retail price of his recordings?
Because the artist gets 20% of the retail price, and 20% is equal to 1/5, the artist gets 1/5 of the retail price. So you do 36,000 times 5 to get the whole, original price.
