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Math

QuestionFind the dealer's cost of a calculator sold for \$15 with a 25% markup on cost.

Studdy Solution

STEP 1

Assumptions1. The selling price of the scientific calculator is $15. The markup is25% of the dealer's cost3. The selling price is the sum of the dealer's cost and the markup

STEP 2

We can express the selling price as the sum of the dealer's cost and the markup. Let's denote the dealer's cost as CC.
elling price=C+Markupelling\, price = C + Markup

STEP 3

The markup is given as25% of the dealer's cost. We can express this as 0.25C0.25C.
Markup=0.25CMarkup =0.25C

STEP 4

Substitute the markup in the selling price equation.
elling price=C+0.25Celling\, price = C +0.25C

STEP 5

implify the equation.elling price=1.25Celling\, price =1.25C

STEP 6

Now, we can solve for the dealer's cost CC by dividing the selling price by1.25.
C=elling price1.25C = \frac{elling\, price}{1.25}

STEP 7

Substitute the given selling price into the equation.
C=$151.25C = \frac{\$15}{1.25}

STEP 8

Calculate the dealer's cost.
C=$151.25=$12C = \frac{\$15}{1.25} = \$12The dealer's cost of the calculator is $12.

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