jiawu74

jiawu74

Answered question

2022-08-14

Answer & Explanation

nick1337

nick1337

Expert2023-05-29Added 777 answers

To solve the problem, let's first define the variables:
Let S represent the selling price of the refrigerator.
Let C represent the dealer's cost of the refrigerator.
Let M represent the markup amount.
According to the problem, the markup is 25% of the dealer's cost. We can express this mathematically as:
M=0.25C
The selling price of the refrigerator is given as S=584.
To find the dealer's cost C, we need to subtract the markup from the selling price:
S=C+M
Substituting the expression for M, we have:
S=C+0.25C
Combining like terms, we get:
S=1.25C
Now we can substitute the given selling price S=584 into the equation:
584=1.25C
To solve for C, we divide both sides of the equation by 1.25:
5841.25=C
Evaluating the division on the left side, we find:
C=467.2
Therefore, the dealer's cost of the refrigerator is 467.2.

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