SOLUTION: A new car has a list price of $21,500. Suppose that the dealer markup on this car is 5%. What is the dealer's cost? (Please show your work so I know how you got the answer. Thanks!
Algebra.Com
Question 1084990: A new car has a list price of $21,500. Suppose that the dealer markup on this car is 5%. What is the dealer's cost? (Please show your work so I know how you got the answer. Thanks!)
Answer by jorel1380(3719) (Show Source): You can put this solution on YOUR website!
If the dealer mark-up is 5%, then the dealer is selling the car for 105% of what he paid for it (100% dealer's cost + 5% mark-up). So:
105%x=21500
1.05x=21500
x=21500/1.05
☺☺☺☺
RELATED QUESTIONS
A new car has a list price of $24,500. Suppose that the dealer markup on this car... (answered by rfer)
The selling price of a car is $21,000. If the markup is 20% of the dealer’s cost, what is (answered by robertb)
The selling price of a refrigerator is $584. If the markup is 25% of the dealer’s cost,... (answered by ewatrrr)
Miguel purchased a $51,000 RV for the family. The dealer told Miguel that there is a 30... (answered by rfer)
Can you tell me if this is the correct answer to the question. The suggest list price of (answered by Earlsdon)
a car dealer sells a car for 39,000, which represents 25% markup over the dealer's cost.... (answered by rfer)
the suggested list price of a new car is $34000. the dealer's cost is 85% of list. How... (answered by rfer)
The suggested list price of a new car is $34,000. The dealer's cost is 85% of list.... (answered by rfer)
A car dealer wants to make a profit of $925 on the sale of a car that cost the dealer... (answered by anomis)