A customer just paid $35,620 for a delivery van. If the percent markup based on cost is 30%, what was the cost?
A) $27,400.00
B) $24,934.00
C) $25,659.00
D) $20,741.18

Name: A customer just paid $35,620 for a delivery van. If the percent markup based on cost is 30%, what was the cost? A) $27,400.00 B) $24,934.00 C) $25,659.00 D) $20,741.18
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The cost can be found by dividing the selling price by 1 plus the markup rate (in decimal form). So, the cost = $35,620 / (1 + 0.30) = $35,620 / 1.30 = $27,400.

A Customer Just Paid $35,620 for a Delivery Van