   Chapter 8.I, Problem 21RE ### 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.What is the cost of a computer system that sells at retail for $850 with a 60% markup based on cost? To determine To calculate: The cost of a computer if the selling price is$850 and percent markup is 60%.

Explanation

Given Information:

The selling price of a computer is $850 and percent markup based on cost is 60%. Formula used: The cost can be calculated using the following equation: Cost=Selling Price100%+Percent markup on cost or C=SP100%+%Mcost Calculation: Consider the provided data, The selling price of a computer is$850 and percent markup based on cost is 60%.

So, S=\$850 and %Mcost=60%.

The cost can be calculated as,

C=SP100%+%Mcost

Substitute S=

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