Question

a car dealership pays $8,350 for a car, they mark up the price by 17.4% to get the retail price. What is the retail price of the car at this dealership

Answer 1

To find the retail price of the car, we need to add the markup to the original cost:

markup = 17.4% = 0.174
markup amount = 0.174 x $8,350 = $1,452.90

retail price = original cost + markup amount
retail price = $8,350 + $1,452.90
retail price = $9,802.90

the retail price of the car at this dealership is $9,802.90.