Question

if a dealer buys a car from the manufacturer for $21,050 and then sells it for $30,038, what is his markup? the markup is ____'% (type an integer or decimal rounded to the nearest tenth as needed)

Answer 1

Given:

a.) A dealer buys a car from the manufacturer for $21,050.

b.) He sells it for $30,038.

Let's now determine his markup,

We get,

`\text{ Mark up (\%) = }\frac{\text{ \$30,038 - \$21,050}}{\text{ \$21,050}}\text{ x 100}`
`=\text{ }\frac{\text{ \$8,988}}{\text{ \$21,050}}\text{ x 100}`
`=\text{ 0.42698337 x 100}`
`\text{ }=\text{ 42.698337 \%}`
`\text{ Mark up }\approx\text{ 42.70\%}`

Therefore, the mark up is 42.70%