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DIA [1.3K]
3 years ago
7

A used-car dealer has a vehicle on the lot with a sticker price of $5999. if the dealer markup on used vehicles is 20%, how much

did the dealer pay for the car?
Business
2 answers:
cupoosta [38]3 years ago
5 0
A price markup is an increase in the price the dealer sells that he ensures in order to gain guaranteed profit. If the markup is 20%, this means that he added 20% of what he paid for the car, and used this price for sale. Therefore, we let x be the price the dealer paid for the car.

$5999 = x + 0.2x = 1.2x
x = $4999

Thus, the dealer paid $4999 originally for the car.

Yuki888 [10]3 years ago
3 0

Answer:

4,999.17

Explanation:

AP3X

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Data and Calculations:

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July 1, 2021, Issuance of 44,000 shares

Total outstanding common stock

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Learn more: brainly.com/question/22374514

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2 years ago
New Body, a gym, bought new exercise equipment on credit. The purchase price was $10,438.88. They secure the loan with a financi
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