Math Word Problem

Question

Jesse's Awesome Autos advertised a special sale on cars Dealer cost plus 5%! Quinten and Shapera bought a luxury sedan for $23,727.90. Whats was the dealer's cost?

Answer 1

Price (p) = Dealer's cost (c) + 5% so we can say p = 1.05c

Since p = $23,727.90, $23,727.90 = 1.05c or c = $23,727.90/1.05 = $22,598.00