Question

The selling price of a refrigerator, is 459.90 if the markup is 5% of the dealers cost, what is the dealers cost of the refrigerator

Answer 1

Answer: $438.00

Explanation:

1 x + 5% of x = $459.90

1 x + 0.05 (x ) = 459.9

[ (1.00) (x) + (0.05) (x ) ] = 459.9

(1.05 ) x = 459.9

[ 1.05 / 1.05 (x) ] = 459.9 / 1.05

[ 1.05 / 1.05 ] = 1 x 1 x = [ 459.9 / 1.05 ]

x = 438.00