The markup on a desk is 38 % of the sale price. If the desk sells for $ 838.71 , what was the cost?
(a) $ 22.07 (b) $ 502.00 (c) $ 450.00 (d) $ 607.76 (e) $ 520.00
When i divide $838.71 by 38% i get 2207.131579
When I multiply 838.71 and 38% i get 318.7174
So i think the answer is A but im not sure
You're on the right track.
Now subtract 318.72 from 838.71
To find the cost of the desk, you can use the formula:
Cost = Sale price / (1 + Markup percentage)
In this case, the markup is 38% of the sale price, so the markup percentage is 0.38. We need to add 1 to the markup percentage because it represents a fraction of the sale price.
Let's calculate the cost using this formula:
Cost = $838.71 / (1 + 0.38)
Cost = $838.71 / 1.38
Cost ≈ $607.756
So, the cost of the desk is approximately $607.76.
Now, let's see which option matches this value. According to the provided options, the correct answer is (d) $607.76.
Therefore, your initial guess was correct.