Question

A car dealer's markup on every car they sell is 20%. For what price did the dealership buy a car that they sold for $18,600?

Answer 1

buying price = $15,500

Explanation:

selling price 20% more than the buying price

let the buying price be 100% then;

selling price = 120%

120% = $18,600

100% = ?

(100 × 18600) ÷ 120

= $15,500