Final answer:
To determine Walmart's cost price for a set of Callaway golf clubs sold for $700 with a 300% markup, divide the selling price by 4, resulting in a cost of $175.
Step-by-step explanation:
The question pertains to a mathematical concept related to profit calculation, specifically focusing on the markup percentage.
If Walmart sells a set of Callaway golf clubs for $700 and marks them up 300%, we need to calculate how much Walmart originally paid for the set of clubs.
To find this, we use the markup formula: selling price = (1 + markup percentage) × cost price.
In this scenario, $700 = (1 + 300%) × cost price, meaning that $700 = 4 × cost price.
Therefore, the cost price, or how much Walmart paid Callaway for the set of clubs, is $700 / 4, which equals $175.