Answer:
[tex]\large \boxed{213.57}[/tex]
Step-by-step explanation:
Let x = cost of IPod
[tex]\begin{array}{rcl}\text{Price} & = & \text{Cost + Markup}\\299 & = & x + 0.40x\\& = & x(1 + 0.40)\\& = & 1.40x\\x & = & \dfrac{299}{1.40}\\\\& = & \mathbf{213.57}\\\end{array}\\\text{The cost of the IPod is $\large \boxed{\mathbf{213.57}}$}[/tex]
Check:
[tex]\begin{array}{rcl}299 & = & x + 0.40x\\299 & = & 213.57 + 0.40 \times 213.57\\299 & = & 213.57 + 85.43\\299 & = & 299.00\\\end{array}[/tex]
OK
