SOLUTION: Suppose a college bookstore buys a textbook from a publishing company and then marks up the price they paid for the book 33% and sells it to a student at the marked-up price. If th

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Question 1152292: Suppose a college bookstore buys a textbook from a publishing company and then marks up the price they paid for the book 33% and sells it to a student at the marked-up price. If the student pays $80 for the textbook, what did the bookstore pay for it? Round your answer to the nearest cent.
Found 2 solutions by ikleyn, Theo:
Answer by ikleyn(52787) About Me  (Show Source):
You can put this solution on YOUR website!
.

x + 0.33x = 80   dollars.


x*(1 + 0.33) = 80


x = 80%2F1.33 = 60.15.


ANSWER.  $60.15.


Answer by Theo(13342) About Me  (Show Source):
You can put this solution on YOUR website!
c = cost
m = markup
s = selling price
s = 80
c + m = 80
m = .33 * c
replace m with .33 * c to get:
c + .33 * c = 80
simplify to get:
1.33 * c = 80
solve for c to get:
c = 80 / 1.33 = 60.15037594 = 60.15 rounded to the nearest cent.