Question

a used car dealer has a vehicle on the lot with a sticker price of $9999. if the dealer markup on used vehicles is 15%, how much ded the dealer pay for the car

Answer 1

$8694.78

Hope this helps!

Answer 2

Answer:

He paid approximately $ 8694.783 for the car.

Step-by-step explanation:

Let x be the price of car that dealer pay for the car,

Also, the markup percentage = 15 %,

Thus, the hike in the price = 15 % of the price paid by dealer

= 15 % of x

$=\frac{15x}{100}$

$=0.15x$

So, the sticker price of the car = The price paid by dealer + hike in the price

= x + 0.15x

= 1.15 x

Since, the sticker price = $ 9,999

$\implies 1.15 x = 9999$

$\implies x = \frac{9999}{1.15}=8694.7826087\approx 8694.783$

Hence, he paid approximately $ 8694.783 for the car.