The selling of a refrigerator, is $908.40. If the markup is 20% of the dealers cost, what is the dealers cost of the refrigerator
Let the dealer's cost of the refrigerator be x.
The markup is 20% of the dealer's cost, so the markup is 0.20x.
The selling price is the dealer's cost plus the markup, so it is x + 0.20x = 1.20x.
We are told that the selling price is $908.40, so we set 1.20x = $908.40 and solve for x:
1.20x = $908.40
x = $908.40 / 1.20
x = $757
The dealer's cost of the refrigerator is $757. Answer: \boxed{757}.