Question

Best Buy sells a flat-screen high-definition TV for $700. Best Buy marks up the TV 45% on cost. What is the cost and dollar markup of the TV? (Round your answers to the nearest hundredth.)

Answer 1

They're selling it for $700.

They bought it for 'x' price and they mark up the price by 45% to make a profit

x is the original cost
x * 0.45 is going to be the dollar mark up

x + 0.45x will give you the final selling price which is 700
you can write that as an equation:
x + 0.45x = 700

can you solve for x?