Question

A car dealership buys a car for $12,500. They sell the car for $15,750. What is the percent markup?

Answer 1

Answer: 26

Step-by-step explanation:

12,500 - 15,750= 3250

Answer 2

Answer: 26%

Explanation:

The formula to calculate the percentage markup is given as:

= Selling price - Cost / Cost price × 100

where selling price = $15750

Cost price = $12500

Percentage markup = ($15750 - $12500) / $12500 × 100

= $3250/$12500 × 100

= 26%