00:01
Okay, we are told the markup is $3 .42 per book, and that represents a markup of 15 % of cost.
00:14
So 15 % of cost.
00:19
So let's say then the books cost c dollars.
00:23
So c is your cost for the book.
00:27
My selling price is c plus $3 .42.
00:32
That's the markup.
00:33
So the book cell for c plus 3 .42 and that represents c plus 15 % of the cost price c.
00:46
So there's an equation here involving c.
00:49
So on the left, c plus 3 .42.
00:53
On the right i have 1 .15 times c.
00:57
In other words, this item here is c plus .15 of c.
01:06
Change 15 % into decimal form and get that.
01:11
So now, all i can do take away c from both sides, 3 .42 will be 0 .15c, it's minus c on the right.
01:23
So c then is going to be 3 .42 divided by 0 .15.
01:32
And that i work out on a calculator.
01:36
3 .42 divided by 0 .15 is $22 .80...