Exercises 19–20 involve markup, the amount added to the dealer's cost of an item to arrive at the selling price of that item. The selling price of a refrigerator is \$1198. If the markup is 25% of the dealer's cost, what is the dealer's cost of the refrigerator?
Table of contents
- 0. Review of Algebra4h 18m
- 1. Equations & Inequalities3h 18m
- 2. Graphs of Equations1h 43m
- 3. Functions2h 17m
- 4. Polynomial Functions1h 44m
- 5. Rational Functions1h 23m
- 6. Exponential & Logarithmic Functions2h 28m
- 7. Systems of Equations & Matrices4h 5m
- 8. Conic Sections2h 23m
- 9. Sequences, Series, & Induction1h 22m
- 10. Combinatorics & Probability1h 45m
1. Equations & Inequalities
Linear Equations
Problem 12
Textbook Question
An electronic pass for a toll road costs \$30. The toll is normally \$5.00 but is reduced by 30% for people who have purchased the electronic pass. Determine the number of times the road must be used so that the total cost without the pass is the same as the total cost with the pass.
Verified step by step guidance1
Define the variable: let \(x\) represent the number of times the road is used.
Write the expression for the total cost without the electronic pass: since each toll costs \$5.00\(, the total cost is \)5x$.
Write the expression for the total cost with the electronic pass: the pass costs \$30\( upfront, and each toll is reduced by 30%, so each toll costs \)5 \times (1 - 0.30) = 5 \times 0.70 = 3.5\(. Therefore, the total cost is \)30 + 3.5x$.
Set the total costs equal to find the break-even point: \$5x = 30 + 3.5x$.
Solve the equation for \(x\) by isolating \(x\) on one side: subtract \$3.5x\( from both sides to get \)5x - 3.5x = 30\(, then simplify and solve for \)x$.
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Key Concepts
Here are the essential concepts you must grasp in order to answer the question correctly.
Setting Up Equations for Cost Comparison
To solve the problem, you need to express the total costs with and without the electronic pass as algebraic expressions. This involves defining variables (e.g., number of uses) and writing equations that represent each total cost scenario for comparison.
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Percentage Discount Calculation
Understanding how to calculate a percentage discount is essential. Here, a 30% reduction on the $5 toll means multiplying $5 by 0.30 to find the discount amount, then subtracting it from the original toll to find the reduced toll cost.
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Solving Linear Equations
Once the cost expressions are set equal, solving for the variable requires knowledge of linear equations. This involves isolating the variable on one side through algebraic manipulation to find the number of uses where costs are equal.
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