Basic Math/math

Advertisement


Question
The original cost for a car is $15,000. The markup is 5%. How much will the dealer recieve when he sells the car.

Answer
They way the question is asked, I'm not sure which answer you're looking for.  It the original cost to the buyer or to the dealer?  If the dealer buys the car for 15K and marks it up 5%, then it's as simple as 15000 x .05 = 750.  The dealer will sell the car for %15,750 and will make $750.  If the dealer is selling the car for 15K and has already marked it up 5%, then you want to know,
x +.05X = 15,000
1.05x = 15000
x = 15000/1.05 = 14286, so the dealers markup would be 15000-14286=$714.

I'm guess though, you probably want the first solution.

Basic Math

All Answers


Answers by Expert:


Ask Experts

Volunteer


Lynn Houston

Expertise

I can answer questions in basic algebra and any grade school math.

Experience

Love math, currently helping my nephew get through Intermediate Algebra.

Education/Credentials
I majored in Math Ed in college (but decided not to teach), so have over 40 credits of math.

©2016 About.com. All rights reserved.