SOLUTION: The Ajax Company can sell gidgets for 10.97 a piece. What does it cost the company to manifacture each gidget if it makes a profit of 8%. i need a break down of why the answer

Question 162041: The Ajax Company can sell gidgets for 10.97 a piece. What does it cost the company to manifacture each gidget if it makes a profit of 8%.

i need a break down of why the answer is x=10.16;the manufactering cost is $10.16
Answer by checkley77(12844) (Show Source): You can put this solution on YOUR website!
8%=8/100=.08
Cost of manufactuting the gidget=x.
x+.08x=selling price.
1.08x=selling price.
1.08x=10.97
x=10.97/1.08
x=10.16 cost of manufacturing the gidget.
--------------------------------
10.97/1.08=10.16 answer.
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