Answer:
Cost price of an item = $144.95
Explanation:
Cost price is the price at which the article is purchased .
It includes all the expenses incurred on that item till the time it is owned by us .
Selling price is the price at which the item is sold to the customer .
Market price is the price marked on the product . It is basically the current price of the item .
We know that selling price - market price = cost price
Given :
Market price of an item = $45.00
Selling price of an item = $189.95
To find : cost price of an item
Solution :
Cost price = $189.95 - $45.00 = $144.95