QuestionMay 22, 2025

Work the following problem Choose the correct answer. ABC Office Supply offers an electric typewriter for 129.95 If ABC recelved a 15% markup on cost by selling the typewriter at this price what was the cost of the typewriter to ABC? square

Work the following problem Choose the correct answer. ABC Office Supply offers an electric typewriter for 129.95 If ABC recelved a 15% markup on cost by selling the typewriter at this price what was the cost of the typewriter to ABC? square
Work the following problem Choose the correct answer. ABC Office Supply offers an electric typewriter for 129.95 If ABC recelved a 15% markup on cost by selling the typewriter at this price what was the cost of the typewriter to ABC? square

Solution
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Answer

\113 Explanation 1. Define the relationship between selling price and cost Selling price is given as 129.95, and it includes a 15% markup on the cost. 2. Use the markup formula **Selling Price = Cost + Markup**; here, Markup = 0.15 * Cost. 3. Set up the equation 129.95 = Cost + 0.15 \times Cost 4. Solve for Cost Combine terms: 129.95 = 1.15 \times Cost. Divide both sides by 1.15: Cost = \frac{129.95}{1.15}.

Explanation

1. Define the relationship between selling price and cost<br /> Selling price is given as $129.95, and it includes a 15% markup on the cost.<br />2. Use the markup formula<br /> **Selling Price = Cost + Markup**; here, Markup = 0.15 * Cost.<br />3. Set up the equation<br /> $129.95 = Cost + 0.15 \times Cost$<br />4. Solve for Cost<br /> Combine terms: $129.95 = 1.15 \times Cost$. <br /> Divide both sides by 1.15: $Cost = \frac{129.95}{1.15}$.
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