Question

A car dealer advertises Q^(6)% markup rate on a car that cost him $18,500. what is the car's selling price?

Answer 1

The cost of a car is, C = $18,500

The markup rate is 6%.

r = 6%

= 6x 1/100

= 0.06

To find the selling price, first find the markup by using the formula M = r. C,

M = r. C,

= 0.06 x 18,500

= 1,110