A store manager uses a markup rate of 25% on all appliances. Find the cost of a blender that sells for $64.00. Round your answer to the nearest cent. Note: Use the formula S = C + M , where S is the selling price, C is the cost price, and M is the markup.
A) $51.20
B) $52.20
C) $49.40
D) $53.00
E) $48.60

Question

A store manager uses a markup rate of 25% on all appliances. Find the cost of a blender that sells for $64.00. Round your answer to the nearest cent. Note: Use the formula S = C + M , where S is the selling price, C is the cost price, and M is the markup. ​
A) $51.20
B) $52.20
C) $49.40
D) $53.00
E) $48.60

Quizplus · Accepted Answer

The markup rate is 25%, meaning the markup (M) is 25% of the cost (C). The selling price (S) is given as $64.00. Using the formula S = C + M, and knowing that M = 0.25C, we can substitute to get $64 = C + 0.25C = 1.25C. Solving for C gives C = $64 / 1.25 = $51.20.

A Store Manager Uses a Markup Rate of 25% on All