A store prices tapes by raising the wholesale price 40% and adding 25 cents. What must a tape's wholesale price be if the tape sells for $1.99?
Please show work than you
1.4x + .25 = 1.99
Solve for x.
To solve this problem, we need to work backwards from the selling price of $1.99 to find the wholesale price of the tape.
Let's first find out the part of the selling price that represents the wholesale price after it has been increased by 40%.
If we assume the wholesale price is represented by "x", then a 40% increase would be 40% of x, or 0.4x.
So, the wholesale price after the increase is x + 0.4x = 1.4x.
Now, we add 25 cents to this increased wholesale price to get the final selling price of $1.99.
1.4x + 0.25 = 1.99
Next, we solve this equation to find the value of x:
1.4x = 1.99 - 0.25
1.4x = 1.74
x = 1.74 / 1.4
x ≈ 1.2429
Therefore, the wholesale price of the tape should be approximately $1.2429.