ou see a used car you wish to buy. The dealer quotes you a price of $8,595. You have a blue book quotation of $7,400 for the sam
2 answers:
Answer:
The markup price is 16.15 % .
Step-by-step explanation:
As given
The dealer quotes you a price of $8,595. You have a blue book quotation of $7,400 for the same model and year.
Formula
Where
Change in price = Car price by dealer - Car price in blue book quotation .
Put values in the above
Change in price = 8595 - 7400
= $ 1195
Markup price = 16.15 % (Approx)
Therefore the markup price is 16.15 % .
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