Question

A car dealer advertises a 7% markup over cost. What is the selling price of a car that cost the dealer $13,000?

Answer 1

Explanation:

The selling price can be shown to be 13000 + 7% * 13000

Selling price = 13000(1 + 7/100) = 13000 (1 + 0.07 ) = 13000 * 1.07

Selling price = 13910