Question

a used car dealer has a vehicle on the lot with a sticker price of $9999. if the dealer markup on used vehicles is 15%, how much ded the dealer pay for the car

Answer 1

$8694.78

Hope this helps!

Answer 2

He paid approximately $ 8694.783 for the car.

Explanation:

Let x be the price of car that dealer pay for the car,

Also, the markup percentage = 15 %,

Thus, the hike in the price = 15 % of the price paid by dealer

= 15 % of x

`=(15x)/(100)`

`=0.15x`

So, the sticker price of the car = The price paid by dealer + hike in the price

= x + 0.15x

= 1.15 x

Since, the sticker price = $ 9,999

`\implies 1.15 x = 9999`

`\implies x = (9999)/(1.15)=8694.7826087\approx 8694.783`

Hence, he paid approximately $ 8694.783 for the car.