Question

A new car has a sticker price of $22,150, while the invoice price paid on it was $18,780. what is the percent amount of markup? show your work.

Answer 1

The formula to find markup amount

`(Change in price )/(original price)`

A new car has a sticker price of $22,150, while the invoice price paid on it was $18,780.

Original price of new car = $18,780

Sticker price of new car = 22,150

Change in price = 22,150 - 18,780 = 3370

Markup =
`(Change in price )/(original price)`

=
`(3370 )/(18780)`

= 0.179446

Markup percentage = 0.179446 * 100 = 17.94%