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: 9781305886803

Author: Brechner

Publisher: Cengage

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Chapter 8.I, Problem 3RE

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To calculate: 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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Contemporary Mathematics for Business & Consumers

Ch. 8.I - For the following, use the basic retailing...Ch. 8.I - For the following, use the basic retailing...Ch. 8.I - Prob. 3TIE Ch. 8.I - Prob. 4TIE Ch. 8.I - Prob. 5TIE Ch. 8.I - Prob. 6TIE Ch. 8.I - Prob. 1RE Ch. 8.I - For the following items, calculate the missing...Ch. 8.I - Prob. 3RE Ch. 8.I - For the following items, calculate the missing...

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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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To calculate: 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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