Questions on Word Problems: Money, Business and Interest answered by real tutors!

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Question 150485: The retail price of a used car is $10,052. What was the wholesale price if a markup of 12% was applied by the seller?: The retail price of a used car is $10,052. What was the wholesale price if a markup of 12% was applied by the seller?
Answer by stanbon(18327) About Me  (Show Source):
You can put this solution on YOUR website!
The retail price of a used car is $10,052. What was the wholesale price if a markup of 12% was applied by the seller?
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Let the whosale price be "x".
EQUATION:
x + 0.12x = 10,052
1.12x = 10052
x = $8975
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Cheers,
Stan H.