Question

A Honda Element with a dealer invoice price of $19,700 was retail priced at $23,000. How much is the approximate percent markup based on selling price?

Answer 1

16.75% mark up.

To find this, minus the difference....

23,000 - 19,700 = 3,300..

then divide by the first cost...

23,000 ÷ 3,300 = 0.1675

now multiply that by 100...

0.1675 x 100 = 16.75%