If the markup formula is 40% of the cost and the selling price of an item is $49.99m what the cost?
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The solution is the point of intersection between the two equations.
Assuming you have a graphing calculator or a program to lets you graph equations (I use desmos) you simply put in the equetions and note down the coordinates of the point of intersection.
In the graph the first equation is in blue and the second in red.
The point of intersection = the solution = (-6 , -1)
If you dont have access to a graphing calculator you could draw the graphs by hand;
1) Draw a table of values for each equation; you do this by setting three or four values for x and calculating its image in y (you can use any values of x)
y = 0.5 x + 2 (Im writing 0.5 instead of 1/2 because I find its easier in this format)
x | y
-1 | 1.5 * y = 0.5 (-1) + 2 = 1.5
0 | 2 * y = 0.5 (0) + 2 = 2
1 | 2.5 * y = 0.5 (1) + 2 = 2.5
2 | 3 * y = 0.5 (2) + 2 = 3
y = x + 5
x | y
-1 | 4 * y = (-1) + 5 = 4
0 | 5 * y = (0) + 5 = 5
1 | 6 * y = (1) + 5 = 6
2 | 7 * y = (2) + 5 = 7
2) Plot these point on the graph
I suggest to use diffrent colored points or diffrent kinds of point markers (an x or a dot) to avoid confusion about which point belongs to which graph
3) Using a ruler draw a line connection all the dots of one graph and do the same for the other
4) The point of intersection is the solution
Assuming you have a graphing calculator or a program to lets you graph equations (I use desmos) you simply put in the equetions and note down the coordinates of the point of intersection.
In the graph the first equation is in blue and the second in red.
The point of intersection = the solution = (-6 , -1)
If you dont have access to a graphing calculator you could draw the graphs by hand;
1) Draw a table of values for each equation; you do this by setting three or four values for x and calculating its image in y (you can use any values of x)
y = 0.5 x + 2 (Im writing 0.5 instead of 1/2 because I find its easier in this format)
x | y
-1 | 1.5 * y = 0.5 (-1) + 2 = 1.5
0 | 2 * y = 0.5 (0) + 2 = 2
1 | 2.5 * y = 0.5 (1) + 2 = 2.5
2 | 3 * y = 0.5 (2) + 2 = 3
y = x + 5
x | y
-1 | 4 * y = (-1) + 5 = 4
0 | 5 * y = (0) + 5 = 5
1 | 6 * y = (1) + 5 = 6
2 | 7 * y = (2) + 5 = 7
2) Plot these point on the graph
I suggest to use diffrent colored points or diffrent kinds of point markers (an x or a dot) to avoid confusion about which point belongs to which graph
3) Using a ruler draw a line connection all the dots of one graph and do the same for the other
4) The point of intersection is the solution