The mark up over dealers cost of new car ranges from 11% to 18%. If the sticker price is 26,000, over what will the dealers cost vary?

Question

This is an Algebra word problem over percentages of cost.

Answer 1

Let x = dealer cost

 

Marked up price = dealer cost + amount of markup

 

If the markup is 11% , then x + 0.11x = 26000

 

                                                        1.11x = 26000

 

                                                                x = $23,423.23

 

If the markup is 18%, then x + 0.18x = 26000

 

                                                        1.18x = 26000

 

                                                                x = $22,033.90

 

Dealer cost ranges from $22,033.90 to $23,423.23