Problema Solution
A college bookstore marks up the price that it pays the publisher for a book by 25%. If the selling price of a book is $56.00, how much did the book store pay for this book?
Answer provided by our tutors
let
Sale price = $56.00
Markup % = 25%
Cost price = x
we need to find the Cost price
Markup = Sale price - Cost
Markup = 56 - x
Markup % = (Markup/Cost)*100
(Markup/Cost) = Markup % / 100
(56-x)/x = 25/100
(56-x)/x = 0.25
by solving we find
x = $44.8
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the book store paid $44,8 for the college book.