SOLUTION: The selling price of a refrigerator is 721.20. If the markup is 20% of the dealers cost, what is the dealers cost of the refrigerator

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Question 1024707: The selling price of a refrigerator is 721.20. If the markup is 20% of the dealers cost, what is the dealers cost of the refrigerator
Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
Let +c+%7D%7D%5D+=+the+dealer%27s+cost%0D%0A%7B%7B%7B+c+%2B+.2c+=+721.2+
+1.2c+=+721.2+
+c+=+721.2+%2F+1.2+
+c+=+601+
The dealer's cost is $601