SOLUTION: use the markup equation S=C+rC where S is the selling price, C is the cost, and r is the markup rate. A car navigation system costing $380 is sold for $474. Find the markup rate.

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Question 347671: use the markup equation S=C+rC where S is the selling price, C is the cost, and r is the markup rate.
A car navigation system costing $380 is sold for $474. Find the markup rate. Round to the nearest tenth of a percent.
Found 2 solutions by ewatrrr, solver91311:
Answer by ewatrrr(24785) (Show Source):
You can put this solution on YOUR website!
Hi,

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Substitute as You Read

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Simplify and Solve for r

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rounded to the nearest tenth of a percent.
r = 24.7%
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check your answer:
380 + .247*380 = 474

Answer by solver91311(24713) (Show Source):
You can put this solution on YOUR website!

Solve the formula for

Now all you need to do is plug in the sale price and cost values and do the arithmetic.

John

My calculator said it, I believe it, that settles it