Question

if a dealer buys a car from a manufacturer for $20,480 and sells it for $26,808...what is his markup? rounded to the nearest tenth as needed...as an integer or decimal

Answer 1

To find the markup, substract the price at which the car was bought from the price at which the car was sold:

`26,808-20,480=6328`

To find the markup as a percentage from the original price, set 20,480 to be equal to 100%. If x% represents 6328, then:

`\begin{gathered} (x)/(6328)=(100)/(20,480) \\ \Rightarrow x=(100*6328)/(20,480)=30.898\ldots \end{gathered}`

To the nearest tenth, 30.898... = 30.9.

Therefore, the markup is equal to 30.9%.