Question

Find a. the amount of mark-up and b. the list price: The Auto Resale Store bought Pablo’s Toyota for $8,500. The store marked the price up 35%.

Answer 1

Results are below.

Explanation:

Giving the following information:

Selling price= $8,500

Mark-up percentage= 35%

First, we need to calculate the list price:

list price= selling price / (1 + Mark-up percentage)

list price= 8,500 / 1.35

list price= $6,296.3

Now, the mark-up:

Mark-up= selling price - list price

Mark-up= 8,500 - 6,296.3

Mark-up= $2,203.7