the selling price of a refrigerator is $737.10. if the markup is 50% of the dealers cost, what is the…
the selling price of a refrigerator is $737.10. if the markup is 50% of the dealers cost, what is the dealers cost of the refrigerator?
Answer
Explanation:
Step1: Let dealer's cost be $x$.
The selling price is the sum of the dealer's cost and the markup. The markup is 50% of the dealer's cost, so the selling price $S = x+0.5x=1.5x$.
Step2: Given $S = 737.10$.
We have the equation $1.5x = 737.10$.
Step3: Solve for $x$.
$x=\frac{737.10}{1.5}=491.4$.
Answer:
$491.4$