Question

A car dealer paid a certain price for a car and marked it up by 7/5 of the price he paid. Later, he sold it for $24,000. What is the original price ?

Answer 1

A car dealer paid a car and marked it up t0 7/5 of the car’s price. Then sold it for 24 000 dollars. Let’s find the original price of the car.
=> Let the original price of the car be x
=> (7/5)x = 24 000
=> x = 24 000 (5/7)
=> x = 17 142.86
Thus, the original price of the car is 17 142.86. He marked it up to 7/5 and sell it to a price of 24 000