Explanation Given Information: The selling price of an automobile is $ 12 , 344.80 and the amount of markup is $ 5 , 400 . Formula used: The cost can be calculated with the formula; Cost = Selling Price − Markup C = S P − M The formula for find the percentage of markup cost is to divide the markup cost of an item by the Cost is; % M cos t = M C Calculation: The selling price of an automobile is $ 12 , 344.80 and the amount of markup is $ 5 , 400 . So, S P = $ 12 , 344.80 and M = $ 5 , 400 . The cost of an automobile is given as: C = S P − M Substitute for S P = $ 12 , 344.80 and M = $ 5 , 400 in C = S P − M : C = S P − M = 12 , 344

Contemporary Mathematics for Business & Consumers

8th Edition

ISBN: 9781305585447

Author: Robert Brechner, Geroge Bergeman

Publisher: Cengage Learning

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Chapter 8.I, Problem 3RE

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Contemporary Mathematics for Business & Consumers

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The cost and percent markup of an automobile, if the selling price is $ 12 , 344.80 and the amount of markup is $ 5 , 400 .

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