SOLUTION: Can someone tell me if I did this right. The answer that I got was $806.25/25%=32.25 $806.25-32.25=$774.00 The retail selling price of a sofa is $806.25. What is the cost to

Algebra ->  Algebra  -> Finance -> SOLUTION: Can someone tell me if I did this right. The answer that I got was $806.25/25%=32.25 $806.25-32.25=$774.00 The retail selling price of a sofa is $806.25. What is the cost to       Log On

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Question 113792: Can someone tell me if I did this right. The answer that I got was
$806.25/25%=32.25
$806.25-32.25=$774.00
The retail selling price of a sofa is $806.25. What is the cost to the dealer if she sells at 25% markup on the cost?


Answer by stanbon(48535) About Me  (Show Source):
You can put this solution on YOUR website!
The retail selling price of a sofa is $806.25. What is the cost to the dealer if she sells at 25% markup on the cost?
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Let dealer cost be "x" dollars
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EQUATION:
x + 0.25x = 806.25
1.25x = 806.25
x = $645.00
Dealer price was $645.00