Answer:
$467.20
Step-by-step explanation:
Step 1
Let's represent one of the unknown quantities.
We will let:
x= the dealer's cost for the refrigerator (before the markup is added).
Step 2
Let's represent other unknown quantities in terms of xx.
There are no other unknown quantities, so we can skip this step.
Step 3
Now we write an equation in xx that models the conditions.
The dealer's cost plus the 25% markup is the selling price, 584$:\ x + 0.25x = 584x + 0.25x = 584.
Step 4
x + 0.25x = 584
x(1+0.25)= 584
1.25x=584
<u>125x</u> <u>= </u> <u>584</u>
1.25 = 1.25
x=467.20
We solve the equation and answer the question.
We find that the dealer's cost before adding markup was $467.20.
Step 5
Finally we check the proposed solution in the original wording of the problem. The dealer's cost before adding the markup, 467.20$, plus the 25% markup, should equal the final price given in the original wording. 584$. This verifies that the dealer cost before adding the markup was 467.20$. So the answer is $467.20.
Hope this helps you!