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Lorico [155]
3 years ago
15

A car seller buys a car from a manufacturer for $10,000. He increases the cost by 5 percent. What is the markup amount?

Mathematics
1 answer:
torisob [31]3 years ago
3 0
We know that:

The markup is the price added to the cost price of goods...

To find the markup, we must multiply the percent increase by the original price (before markup).

So:

10,000 x 5% (or 0.05) = ?

10,000 (You do not have to follow my way of multiplying, do what is comfortable for u)
x       5 (Ignore the decimals then we move it after we get the answer) 
----------
50,000 move the decimal back 2 places so it is 500

The final answer is:

The markup amount is $500...




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<u>We are given:</u>

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<u>Assuming variables and making equations!</u>

let the time taken by the train = t hours

since the car arrived late, it took more time as compared to the train

time taken by the car = t + 2 hours

since the distance from Pasadena to Sacramento doesn't change, both the vehicles covered the same distance, d

<u>Distance travelled by the car:</u>

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d = 50(t+2) miles

rewriting in terms of t

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rewriting in terms of t

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now we have two expressions for t, both of which are equal because t is just the time taken by the train

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<u></u>t = \frac{d-100}{50}<u></u>

<u></u>t = \frac{d}{70}<u></u>

because t is the same:

\frac{d-100}{50} = \frac{d}{70}

\frac{d-100}{5} = \frac{d}{7}

7(d - 100) = 5(d)

7d - 700 = 5d

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2d = 700                                                       [adding 700 on both sides]

d = 350 miles                                               [dividing both sides by 2]      

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Step-by-step explanation:

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