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Chapter 3: Q. 3.5 (page 332)

Find

(a) the amount of mark-up and

(b) the list price.

The Auto Resale Store bought Pablo鈥檚 Toyota for $8,500. They marked the price up 35%.

Short Answer

Expert verified

(a) Mark-up= $2,975

(b) list price= $5525

Step by step solution

01

Part (a) Step 1. Given

Price=8500$Priceup=35%

02

Part (a) Step 2. Calculation

Markupis35%oforiginalprice.=35100脳8500=2975

03

Part (b) Step 1. Calculation

listprice=OriginalPrice-MarkupPrice=8500-2975=5525

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