Question

The selling price of a refrigerator, is $856.90. If the markup is 10% of the dealer's cost, what is the dealer's cost of the refrigerator?

Answer 1

The dealer paid 'C' for it. He decided to sell it for 10% more than C .

That would be (1.10 C) , and that's the $856.90 .

So the equation is . . . 1.10 C = $856.90

Divide each side by 1.10 : C = $856.90 / 1.10

C = $779