SOLUTION: A pair of jeans with a selling price of $21 has a markup rate of 40%. Find the cost of the pair of jeans.

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Question 964253: A pair of jeans with a selling price of $21 has a markup rate of 40%. Find the cost of the pair of jeans.
Answer by macston(5194) About Me  (Show Source):
You can put this solution on YOUR website!
$21 is cost+40%=140% of cost, so:
$21/1.40=$15
ANSWER: The cost of the pair of jeans was $15.