Question

You, a used car dealer, are thinking about buying a 3-year-old car. You think you can resell the car for $9,500. If you want to maintain a 21% markup on the selling price, what price should you pay for the car?
a. $11,495
b. $1,995
c. $7,505

Answer 1

$x \times 1.21 = 9500$

$x = \frac{9500}{1.21} = 7851$