   Chapter 8.I, Problem 3TIE ### 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

# For the following, use the basic retailing equation to solve for the unknown.After a wholesaler adds a markup of $75 to a television set, it is sold to a retail store for$290. What is the wholesaler's cost?

To determine

To calculate: The cost price of the Television if the mark-up cost is $75 and the selling price of Television is$290.

Explanation

Given Information:

The mark-up cost is $75 and the selling price of Television is$290.

Formula used:

The formula to find the cost price of an item states that the selling price and mark-up cost should be subtracted.

C = SPM

Calculation:

The mark-up cost is $75 and the selling price of Television is$290.

So, the value of M and SP is $75 and$290 respectively

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