Question

The selling price of a​ refrigerator, is

​$820.00
If the markup is
25 %
of the​ dealer's cost, what is the​ dealer's cost of the​ refrigerator

Answer 1

Selling Price = $820

Mark up = 25% Cost Price

Selling Price = Cost Price + 25% Cost Price.

Let the cost price = x

Selling Price = x + 25% of x

820 = x + 0.25x

820 = 1.25x

820/1.25 = x

656 = x

Dealer's Cost of refrigeratior = $656