The selling price of a​ refrigerator, is ​$546.70. If the markup is 10% of the​ dealer's cost, what is the​ dealer's cost of the​ refrigerator?

Question

The selling price of a​ refrigerator, is

​$546.70.

If the markup is

10%

of the​ dealer's cost, what is the​ dealer's cost of the​ refrigerator?

Answer 1

D + .10(D) = $546.70

1.1D = 545.70

D = 546.7/1.1 = $497 = Dealer's price before the markup

497 times 10% = $49.70 = the mark up

$49.70 + $497 = $546.70 = the selling price after the mark up