SOLUTION: The selling price of a car is $21,000. If the markup is 20% of the dealer’s cost, what is the dealer’s cost of the car?

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Question 1021075: The selling price of a car is $21,000. If the markup is 20% of the dealer’s cost, what is the dealer’s cost of the car?
Answer by robertb(5830) About Me  (Show Source):
You can put this solution on YOUR website!
21000 = C + 0.20C = 1.20C
==> 21000 = 1.20C
==> C = 21000/1.20 = $17,500