An Apple iPod sells for $299, which is marked up 40% of the selling price. What is the cost of the

iPod?
A. $194.70
B. $149.70
C. $197.40
D. $179.40

My answer D

.6 (299) = 179.4

To find the cost of the iPod, we need to first determine the selling price and then calculate the cost using the markup percentage.

Let's begin by identifying the selling price. We know that the selling price is 40% more than the cost price, which means the markup is 40% of the cost price.

Let's call the cost price "x".

The markup is calculated as 40% of x:

Markup = 0.40 * x

The selling price is then calculated by adding the markup to the cost price:

Selling Price = Cost Price + Markup

Substituting the values, we get:

Selling Price = x + 0.40 * x
= 1.40 * x

We are given that the selling price is $299:

1.40 * x = $299

To find the cost price (x), we divide both sides of the equation by 1.40:

x = $299 / 1.40
x = $213.57

Therefore, the cost of the iPod is $213.57, which is not one of the answer choices provided. However, if we round our answer to the nearest cent, the closest option is C. $197.40.

To find the cost of the iPod, we need to calculate 100% of the original selling price and then subtract the markup.

Let's set up the equation:
Selling price = Cost + Markup

We are given that the selling price is $299 and that it is marked up by 40% of the selling price.

Markup = 40% of Selling price = 0.40 * $299

To find the cost, we can subtract the markup from the selling price:
Cost = Selling price - Markup
Cost = $299 - (0.40 * $299)

Now, let's calculate the cost.
Cost = $299 - ($119.60)
Cost = $179.40

So, the correct answer is D. $179.40.