The selling price of a refrigerator, is $433.65.

Question

The selling price of a refrigerator, is $433.65. If the markup is 5% of the dealers cost, what is the dealers cost of the refrigerator?

$___

Answer 1

433.65/1.05 = $413 = dealer's cost before the 5% markup

$413 + 5% of $413 = $413 + .05($413) = (1.05)$413 = $433.65