Question

A car with a cost price of $5200 is
sold at a profit of 15%. Calculate the
selling price

Answer 1

We are given the initial price of a car and we are also told that the car sold for a 15% profit which means that the price that the car was sold for is 15% more than it's initial price. This is just a simple multiplication problem which we multiply the initial price by the total percentage plus 0.15

`Sold\ Price = Initial\ Price *(Total\ Percentage+Profit\ Percentage)`

`Sold\ Price = \$5200*(1+0.15)`

`Sold\ Price = \$5200*(1.15)`

`Sold\ Price = \$5980`

Therefore, our final answer is that the selling price was $5980

Hope this helps!