SOLUTION: Worldwide Computers sells a computer monitor for $499.95. Worldwide marks up the monitor 25% on the selling price. What did the computer monitor cost Worldwide? Round to nearest ce

Question 1019214: Worldwide Computers sells a computer monitor for $499.95. Worldwide marks up the monitor 25% on the selling price. What did the computer monitor cost Worldwide? Round to nearest cent.
Answer by robertb(5830) (Show Source): You can put this solution on YOUR website!
The formula for retail price is R = C+M, where R is the retail price, C is the cost price, and M is the markup value. Assuming no trade discount was offered, selling price = retail price.
Hence, R = 499.95, M = 0.25*499.95, and the working equation to find the cost price is
499.95 = C +0.25*499.95
==> C = $374.96
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