The selling price of a refrigerator is $584. If the markup is 25% of the dealers cost, what is the dealers cost of the refrigerator?(the markup is the amount added to the dealers cost of an item to arrive at the selling price of that item) I need step by step please ...?

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22-11-2016
Mathematics

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The selling price of a refrigerator is $584. If the markup is 25% of the dealers cost, what is the dealers cost of the refrigerator?(the markup is the amount added to the dealers cost of an item to arrive at the selling price of that item) I need step by step please ...?

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MissPhiladelphia MissPhiladelphia · Answer 1 · 2016-11-22T18:50:45+01:00

MissPhiladelphia MissPhiladelphia

22-11-2016

Selling price of the refrigerator = $584
Percentage of markup of the dealers cost = 25%
Let us assume the dealers cost of the refrigerator = x
Then
125x/100 = 584
125x = 58400
x = 467.20

From the above deduction, it can be concluded that the dealers cost of the refrigerator was $467.20. I hope that the procedure is clear enough for you to understand.

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