The selling price of a refrigerator is $487.20. If the mark up is 5% of the dealers cost what is the dealers cost of the refrigerator

Step-by-step explanation:

Let the cos be x, then selling price is:

We have the selling price $487.20

Cost price is $464

the answer is 200

step-by-step explanation:

the way the question is worded, it seems to imply the $264 interest is simple interest, not compound interest.

the simple interest for 2 years is $264; the simple interest for 1 year is $132.

$132 interest on a $600 investment means an interest rate of (132/600)*100 = 22%.

the value of $200 at 22% interest compounded annually for three years is

200%281.22%29%5e3

the amount of interest is that value, minus the original $200.

23

step-by-step explanation: