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Section 2.3 : Applications of Linear Equations

1. A widget is being sold in a store for 135.40 and has been marked up 7%. How much did the store pay for the widget? Show All Steps Hide All Steps Start Solution We’ll start by letting $$p$$ be the price that the store paid for the widget. The widget has been marked up by 7% and so 0.07$$p$$ has been added to the original price, $$p$$. The equation we get for this problem is then, \begin{align*}p + 0.07p & = 135.4\\ 1.07p & = 135.4\end{align*} Show Step 2 To finish all we need to do is divide both sides by 1.07 to get the price the store paid for the widget. $p = 126.5421$ So, with rounding the store paid126.54 for the widget.