Question

A car dealership pays $25,625 for a new car. They sell the car for $35,525. Find the percent markup on the car to the nearest whole percent.

Answer 1

In order to calculate the percent markup, we first need to divide the selling price by the original price paid. So we have:

`(35.525)/(25.625)=1.3863=138.63\text{\%}`

Now, subtracting from 100%, we have the markup percent:

`138.63-100=38.63\text{\%}`

Rounding to the nearest whole percent, we have 39%.