Answer
\[\$467.2\]
Work Step by Step
Let dealer’s cost be \[p\] and the selling price be \[s\]
\[\therefore s=584\]
And,
Markup price
\[\begin{align}
& =p\times \frac{25}{100} \\
& =\frac{p}{4} \\
\end{align}\]
Since markup is the amount added to the dealer’s cost of an item to arrive at the selling price of that item.So, we can write:
Selling price \[=\]dealer’s cost +markup
Putting corresponding values obtained, we get:
\[\begin{align}
& s=p+\frac{p}{4} \\
& =\frac{4p+p}{4} \\
& =\frac{5p}{4}
\end{align}\]
After cross multiplying, we get:
\[p=\frac{4s}{5}\]
Now on putting here the given value of \[s\],we get:
\[\begin{align}
& p=\frac{4\times 584}{5} \\
& =\frac{2336}{5} \\
& =467.2
\end{align}\]
Hence dealer’s cost is \[\$467.2\]
