The selling price of lumber at Home Depot is $3,170,

Question

The selling price of lumber at Home Depot is $3,170, percent markup on cost is 30%. Calculate the actual cost. (Round your answer to the nearest cent.)

Answer 1

Hi Areli, to find the actual cost, start with the equation:

x + .30 * x = 3170, where x is the original cost, and .30 * x is the markup:

1.3 * x = 3170

Divide both sides by 1.3

x = 2438.46

The actual cost of the lumber is $2438.46.

To check, replace x in the original equation by 2438.46.

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