A video game sells at Arnolds for $14.99. Arnolds marks the game up at 40% of the selling price. The cost of the video game to Arnold is:
A)$6.00
B)$8.99
C)$6.50
D)$9.10
E)None of these

Question

Quizplus · Accepted Answer

To find the cost of the video game to Arnold, we need to first find the selling price.

40% of selling price = $14.99

0.4x = $14.99

x = $37.47

So the selling price is $37.47.

Now we can use the formula:

selling price = cost price + markup

$37.47 = cost price + 0.4(cost price)

$37.47 = 1.4(cost price)

cost price = $26.76

Therefore, the cost of the video game to Arnold is $26.76.

However, none of the provided answer choices match $26.76. The closest answer choice is B, $8.99, which is approximately one-third of the actual cost. We can check this estimate by quickly calculating:

$8.99 x 3 = $26.97

This is very close to the actual cost of $26.76, so B is the best choice.

A Video Game Sells at Arnolds for $14