Question

if a dealer buys a car from the manufacturer for $21,050 and then sells it for $30,038, what is his markup? the markup is ____'% (type an integer or decimal rounded to the nearest tenth as needed)

Answer 1

Given:

a.) A dealer buys a car from the manufacturer for $21,050.

b.) He sells it for $30,038.

Let's now determine his markup,

We get,

$\text{ Mark up (\%) = }\frac{\text{ \ 30,038 - \ 21,050}}{\text{ \ 21,050}}\text{ x 100}$$=\text{ }\frac{\text{ \ 8,988}}{\text{ \ 21,050}}\text{ x 100}$$=\text{ 0.42698337 x 100}$$\text{ }=\text{ 42.698337 \%}$$\text{ Mark up }\approx\text{ 42.70\%}$

Therefore, the mark up is 42.70%