cameras r us buys cameras at wholesale and sells them at a 40% markup. use the diagram to find the wholesale…

cameras r us buys cameras at wholesale and sells them at a 40% markup. use the diagram to find the wholesale price of a camera the store sells for $77. 100% = wholesale price 40% markup retail price = $77 $45 $50 $55 $60

cameras r us buys cameras at wholesale and sells them at a 40% markup. use the diagram to find the wholesale price of a camera the store sells for $77. 100% = wholesale price 40% markup retail price = $77 $45 $50 $55 $60

Answer

Explanation:

Step1: Let wholesale price be $x$.

The retail price is the wholesale price plus 40% of the wholesale price. So the retail - price formula is $x + 0.4x=1.4x$.

Step2: Set up the equation.

We know the retail price is $77$, so $1.4x = 77$.

Step3: Solve for $x$.

$x=\frac{77}{1.4}=55$.

Answer:

$55$ (corresponding to option C. $55$)