If the markup is 5% of the dealer's cost. Then the dealer's cost of the refrigerator will be $727.65.
What is the percentage?
The quantity of anything is stated as though it were a fraction of a hundred.
The selling price of a refrigerator is $693.00.
If the markup is 5% of the dealer's cost.
Then the dealer's cost of the refrigerator will be
⇒ $693.00 × (1 + 0.05)
⇒ $693.00 × 1.05
⇒ $727.65
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