Question

A new car has a sticker price of $23,750 while the invoice price paid on it was 22,950. What is the percentage markup ?

Answer 1

so the price was bought at 22,950, but the dealer is jacking it up to 23,750, the difference is 23,750 - 22,950, or 800 bucks.

now, if we take 22950 to be the 100%, what is 800 off of it in percentage?


`\bf \begin{array}{ccll} amount&\%\\ \text{\textemdash\textemdash\textemdash}&\text{\textemdash\textemdash\textemdash}\\ 22950&100\\ 800&p \end{array}\implies \cfrac{22950}{800}=\cfrac{100}{p}\implies p=\cfrac{800\cdot 100}{22950}`

Answer 2

Answer : The percentage markup is, 3.37 %

Step-by-step explanation :

As we are given that:

Sticker price of a car = $23750

Invoice price of a car = $22950

Now we have to determine the percentage markup.

`\text{Percentage markup}=\frac{\text{Sticker price of a car}-\text{Invoice price of a car}}{\text{Sticker price of a car}}* 100`

Now put all the given values in this expression, we get:

`\text{Percentage markup}=(\$ 23750-\$ 22950)/(\$ 23750)* 100`

`\text{Percentage markup}=(\$ 800)/(\$ 23750)* 100`

`\text{Percentage markup}=3.37\%`

Thus, the percentage markup is, 3.37 %