Question

the selling price of a refrigerator is $521.25. if the markup is 25% of the dealers cost, what is the dealers cost of the refrigerator

Answer 1

Answer:  The required dealers cost of the refrigerator is $417.

Step-by-step explanation:  Given that the selling price of a refrigerator is $521.25 and the markup is 25% of the dealers cost.

We are to find the dealers cost of the refrigerator.

Let x denotes the dealers cost of the refrigerator.

Then, according to the given information, we have

$x+25\%\times x=521.25\\\\\Rightarrow x+\dfrac{25}{100}\times x=521.25\\\\\\\Rightarrow x+\dfrac{1}{4}x=521.25\\\\\\\Rightarrow \dfrac{5x}{4}=521.25\\\\\\\Rightarrow x=\dfrac{521.25\times4}{5}\\\\\\\Rightarrow x=\dfrac{2085}{5}\\\\\Rightarrow x=417.$

Thus, the required dealers cost of the refrigerator is $417.

Answer 2

25% markup = original + 25% = 125% of original = 1.25 x original

Selling price = 1.25 x dealer price
Answer = 521.25/1.25=$417