   Chapter 8.I, Problem 13RE ### Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447

#### Solutions

Chapter
Section ### Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447
Textbook Problem

# Solve the following word problems. Round dollars to the nearest cent and percents to the nearest tenth of a percent.After a wholesaler adds a markup of $420 to a TV. it sold for$949. What is the cost of the TV?

To determine

To calculate: The cost of the TV if the markup amount is $420 and the selling price is$949.

Explanation

Given Information:

The markup amount of TV is $420 and the selling price is$949.

Formula used:

The cost can be calculated using the following equation:

Cost=Selling PriceMarkup or C=SPM

Calculation:

Consider the provided data,

The markup amount of TV is $420 and the selling price is$949.

So, SP=$949 and M=$420

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