Final answer:
The selling price of a product with a cost of $1920 and a mark-up of 20% of the selling price is calculated by solving the equation S = cost + (mark-up × S) resulting in a selling price of $2400.
Step-by-step explanation:
To calculate the selling price of a product where the mark-up is 20% of the selling price we can set up the equation with the cost as the part of the price without the mark-up. if the product has a cost of $1920 and the mark-up is 20% of the selling price then the selling price (S) can be expressed as S = cost + (mark-up × S).
We substitute the given values into the equation: S = 1920 + (0.20 × S). To find S, we need to solve this equation for S, which is a common algebraic process in mathematics involving isolating the variable S on one side of the equation.
0.20 × S = S - 1920
1S - 0.20S = 1920
0.80S = 1920
S = 1920 / 0.80
S = 2400
Therefore, the correct selling price is $2400, which corresponds to option B.