A Sony LCD TV has a selling price of $925 and a 62% markup on selling price. What is the dollar markup and what is the cost?

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Answer

Selling price = $ 925

Mark percentage = 62%

[tex]\begin{gathered} \text{Let's x represent Cost price i.e C. P=x} \\ \text{Selling price =C P +profit} \\ Profit\text{ =}\frac{\text{62x}}{100} \\ \\ S\text{. P =x+}\frac{\text{62x}}{100} \\ S\text{. P=x+0.62x} \\ S\mathrm{}P=1.62x \\ \therefore1.62x=925 \\ \end{gathered}[/tex][tex]\begin{gathered} \therefore1.62x=925 \\ \text{Divide both sides by 1.62} \\ \therefore\frac{1.62x}{1.62}=\frac{925}{1.62} \\ \\ x=570.99 \end{gathered}[/tex]

The cost price is 570.