Question

Jim Abbott purchased a $58,000 recreational vehicle (RV) with a 45 percent markup on selling price. a. What was the amount of the dealer’s markup? Markup amount $ b. What was the dealer’s original cost? Original cost $

Answer 1

The dealer's markup amount is $26,100 and the original cost of the RV is $31,900.

Step-by-step explanation:

To determine the dealer's markup, we need to find 45% of the selling price of the RV. We can set up the following equation:

Markup amount = Selling price × Markup percentage

Let's plug in the given values: $58,000 × 45% = $26,100

The dealer's original cost can be found by subtracting the markup amount from the selling price:

Original cost = Selling price - Markup amount

Let's calculate it: $58,000 - $26,100 = $31,900

Answer 2

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