A DVD player that costs $168 sells for a 30% markup based on the cost. What is the selling price of the DVD player?
A) $560.00
B) $50.40
C) $129.23
D) $218.40

Question

Quizplus · Accepted Answer

To find the selling price, we need to first calculate the cost price. Let's assume the cost price of the DVD player is x.
According to the question, it sells for a 30% markup based on the cost.
Markup = 30% of x
Selling price = cost price + markup
Selling price = x + 30% of x
Selling price = 1.3x
We know that the selling price is $168.
Therefore, 1.3x = 168
x = 168/1.3
x = $129.23 (rounded to the nearest cent)
So, the cost price of the DVD player is $129.23.
Now, we can find the selling price by adding the markup to the cost price.
Selling price = cost price + markup
Selling price = $129.23 + 30% of $129.23
Selling price = $168 (rounded to the nearest cent)
Therefore, the selling price of the DVD player is $218.40 (rounded to the nearest cent).
Hence, the best choice is D.

A DVD Player That Costs $168 Sells for a 30