SOLUTION: a markup rate of 40% was used on a basketball with a selling price of $82.60. find the cost of the basketball.

Algebra ->  Coordinate Systems and Linear Equations  -> Linear Equations and Systems Word Problems -> SOLUTION: a markup rate of 40% was used on a basketball with a selling price of $82.60. find the cost of the basketball.      Log On


   

Question 17952: a markup rate of 40% was used on a basketball with a selling price of $82.60. find the cost of the basketball.
Answer by ivy12003(22) About Me  (Show Source):
You can put this solution on YOUR website!
cost of basketball before markup rate = $82.60

markup rate = 40%

cost of basketball before markup rate + cost of basketball before markup rate * markup rate

$82.60 + $86.60 * 40%

$82.60 + $34.64

$117.24

Therefore, the cost of the basketball is $117.24.