Question

A merchant increases the wholetag cost of a Maytag washing machine by %15 to determine the selling price. If the washer sells for $562.35, find the wholesale cost.

Answer 1

Answer:

The wholesale cost is $489

Explanation:

The merchant increases the wholetag cost by 15%

The price after the increase is $562.35

This can also be seen as 115% of the wholesale cost

so,

115% of x = $562.35

Where x is the wholesale we are required to determine.

1.15x = 562.35

x = 562.35/1.15

= 489

The wholesale cost is $489