A certain product sold for 39,200 has a 14% markupon cost. How much is the cost of the product? 

To find the cost of the product, we need to work backwards from the selling price, taking into account the 14% markup.

Let the cost of the product be \( C \).

The selling price is given by adding 14% of the cost to the cost itself:
\[
\text{Selling Price} = C + 0.14C = 1.14C
\]

We know the selling price is 39,200, so:
\[
1.14C = 39,200
\]

Now, solve for \( C \) by dividing both sides by 1.14:
\[
C = \frac{39,200}{1.14} \approx 34,385.96
\]

So, the cost of the product is approximately **34,385.96**.

Would you like more details or have any questions about the solution?

---

Here are 5 related questions you might find interesting:

1. What would be the selling price if the markup was 20% instead of 14%?
2. How much profit is made from selling the product at this price?
3. What would the selling price be if the cost was reduced by 10%?
4. How would the markup percentage change if the selling price was fixed at 39,200 but the cost increased?
5. How do you calculate the cost if you know the profit margin instead of the markup?

**Tip:** When calculating markups, always remember to express the percentage as a decimal before performing calculations.

Learn how to calculate the cost of a product when given the selling price and a 14% markup on cost. This problem involves understanding percentages and markup calculations. Suitable for adults seeking business or financial knowledge.

Math Problem Statement

Solution

Ask a new question for Free

By Image

Math Problem Analysis

Mathematical Concepts

Formulas

Theorems

Suitable Grade Level

Related Recommendation