SOLUTION: Find the cost and selling price when the markup is $ 9.75 and the rate of markup based on cost is 25.30%. Find the cost and selling price. Round amounts to the nearest cent and
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Question 1143678: Find the cost and selling price when the markup is $ 9.75 and the rate of markup based on cost is 25.30%. Find the cost and selling price. Round amounts to the nearest cent and percents to the nearest tenth of a percent.
Answer by ankor@dixie-net.com(22740) (Show Source): You can put this solution on YOUR website!
Find the cost and selling price when the markup is $ 9.75 and the rate of markup based on cost is 25.30%.
Find the cost and selling price.
Round amounts to the nearest cent and percents to the nearest tenth of a percent.
:
Let c = the cost of item
then
c + 9.75 = selling price
and
1.253c = selling price also
therefore
1.253c = c + 9.75
1.253c - c = 9.75
.253c = 9.75
c = 9.75/.253
c = $38.54 is the cost
and
38.54 + 9.75 = $48.29 is the selling price
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