Orchard Supply sells lawn fertilizer at a price of $12.50 per bag. If the markup is 25% of the cost, find the cost.
C = 12.50/125% = 10
Is it correct?
Yes.
To find the cost of the lawn fertilizer, we need to calculate the amount of the markup added to the cost.
Let's assume the cost of the fertilizer is represented by C.
The markup is 25% of the cost, which can be expressed as 0.25C.
The selling price is given as $12.50, which is equal to the cost plus the markup: C + 0.25C = $12.50.
To find the cost, we can solve this equation:
1.25C = $12.50
Divide both sides of the equation by 1.25:
C = $12.50 / 1.25
C = $10
Therefore, the cost of the lawn fertilizer is $10.