Question

You see a used car you wish to buy. The dealer quotes you a price of $9,550. You have a blue book quotation of $8,400 for the same model and year. How much markup on cost is the dealer using?

Answer 1

It is 13.69% Exactly

Explanation:

You see a used car you wish to buy. The dealer quotes you a price of $9,550. You have a blue book quotation of $8,400 for the same model and year. How much markup on cost is the dealer using?

Answer 2

((9,550−8,400)÷8,400)×100
=13.69%=14%