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?
1.40x + 0.25 = 1.99
To find the wholesale price of a tape, we need to reverse the process described in the question.
Let's assume the wholesale price is x dollars.
According to the information given, the store raises the wholesale price by 40% and adds 25 cents. So when the wholesale price is increased by 40%, it becomes (1 + 0.40) times x, which can be written as 1.40x. Adding 25 cents to this gives us 1.40x + 0.25.
Now, we know that the tape sells for $1.99. This selling price is equal to the raised wholesale price. So we can set up the equation:
1.40x + 0.25 = 1.99
To find x, we can solve this equation. First, let's subtract 0.25 from both sides:
1.40x = 1.99 - 0.25
1.40x = 1.74
Now, divide both sides by 1.40:
x = 1.74 / 1.40
x = 1.242857
Therefore, the tape's wholesale price should be approximately $1.24 to sell it for $1.99.