Question

Suppose a college bookstore buys a textbook from a publishing company and then marks up the price they paid for the book 25% and sells it to a student at the marked-up price. If the student pays $140 for the textbook, what did the bookstore pay for it? Round your answer to the nearest cent.

Answer 1

The book store paid $112.0 for the textbook.

Explanation:

Let x represent amount of book paid by bookstore.

We have been given that a college bookstore buys a textbook from a publishing company and then marks up the price they paid for the book 25% and sells it to a student at the marked-up price.

The total price of the book after 25% markup would be x plus 25% of x.

We have been given that the student pays $140 for the textbook. We can represent this information in an equation as:

`x+(25)/(100)x=140`

`x+0.25x=140`

`1.25x=140`

`(1.25x)/(1.25)=(140)/(1.25)`

`x=112.0`

Therefore, the book store paid $112.0 for the textbook.