Front range cabinet distributors in colorado springs, colorado, sells to its contractors with a 42% markup on cost. if the selling price for cabinets is $9,655, what is the cost to contractors based on cost? (round your answer to the nearest cent.)

Question

Jaylan Bonilla

Business

3 January, 14:21

Front range cabinet distributors in colorado springs, colorado, sells to its contractors with a 42% markup on cost. if the selling price for cabinets is $9,655, what is the cost to contractors based on cost? (round your answer to the nearest cent.)

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Answers (1)

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Jordan Mahoney · Answer 1

This is a simple algebra problem.

To determine price, you need to Have the cost of the product plus the markup equals the sales price.

We know the sales price and the markup, so we need to solve for the cost.

9,655 = 1.42 (x)

X=9,655/1.42