The selling price of a refrigerator, is $572.00. If the markup is 10% of the dealers cost, what is the dealers cost of the refrigerator ?

Question

Thanks

Answer 1

Let x be the dealer's cost of the refrigerator.

 

The dealer's cost plus the markup equals the selling price.

 

x + .1x = 572

 

1.1x = 572

 

x = 572/1.1

 

x = 520

 

The dealer's cost is $520.00.