6. for a particular pickup truck, the percent markup is known to be 115% based on cost to the seller. if the seller paid $15,800 for the truck, what would be the percent markup be based on the sale price? (round to the nearest tenth percent)

Explanation:

You can convert the percent markup into a multiplicative factor in this way:

Base price:                     15,800 . . . (cost to the seller)

Percent mark up:           115% . . .  (based on the cost to the seller)

Sale price:                      15,800 + 115% of x = 15,800 + 115 × 15,800 /100 =

                                        = 15,800 + 1.15 × 15,800 = 15,800 (2.15) = 33,970

The markup is:

And the percent markup based on the sale price is:

            = 53.49 %

Rounding to the nearest tenth percent that is 53.5 %.

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