Question

If the selling price is $75.50 and includes the cost plus 5% of the cost, then what is the cost

Answer 1

71.90

Explanation:

The selling price includes the cost (100% of the cost) plus 5% of the cost. This means it is 100+5 = 105% of the cost.

105% = 105/100 = 1.05; this means we can use the equation

1.05x = 75.5

Divide both sides by 1.05:

1.05x/1.05 = 75.5/1.05

x = 71.90

Answer 2

The answer is 71.90. Hope this helps