Final answer:
Vinny marked up the price of the car by 550%, which results in a total price of $21,385. This value is slightly different from the provided options, with option A) $21,395 being the closest.
Step-by-step explanation:
The student has asked how much Vinny is charging for a car he bought for $3,290 and then marked up by 550%. First, to find the amount of the markup, we multiply $3,290 by 550%, or 5.5 as a decimal: $3,290 × 5.5 is $18,095. This is the amount of the markup. To find the final price, we add the original price of the car to the amount of the markup: $3,290 + $18,095 equals $21,385. Vinny is charging $21,385 for the car, which means option A) $21,395 is a typo, and the correct option, if the numbers were rounded, would be closest to A) $21,385.
To find the price that Vinny is charging for the car, we need to calculate the markup amount and add it to the original price. The markup amount can be found by multiplying the original price by the markup percentage, which is 550%. First, convert 550% to a decimal by dividing it by 100: 550% = 550/100 = 5.5. Then, calculate the markup amount: Markup amount = Original price * Markup percentage = $3,290 * 5.5 = $18,095. Finally, add the markup amount to the original price to find the price Vinny is charging: Price = Original price + Markup amount = $3,290 + $18,095 = $21,385.