Question

a refigerator was sold $890. this price included a 30% mark-up on the cost price. calculate the cost price

Answer 1

Cost price is $684.62

Given:
Sales price = $890
Mark-up on cost price = 30%
Cost Price = ?

The sales price includes the 30% mark-up on cost price. This means that the cost price is the 100% and the Sales price is 130% of the cost price. To get the cost price, we need to divide the sales price by its percentage.

Sales price :          130%     $890
Cost price              100%
Mark-up on cost      30%

890 ÷ 130% = 684.62

to check:
684.62 * 30% = 205.39
684.62 + 205.38 = 890

Answer 2

If you would like to calculate the cost price, you can do this using the following steps:

100% + 30% = 130%

130% of x is $890
130% * x = 890
130/100 * x = 890    /*100/130
x = 890 * 100 / 130
x = $684.62

Result: The cost price was $684.62.