Problema Solution
the selling price of a refrigerator is 931.20. If the mark up is 25% what is the dealers cost of the refridgerator?
Answer provided by our tutors
Cost = x
Selling price = $931.20
Markup = 0.25 or 25%
Markup = (Selling price - Cost)/Cost
(931.20 - x)/x = 0.25
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click here to see the equation solved for x
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x = $744.96
The dealers cost of the refrigerator is $744.96.