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Used car salesman paid 1500 for a car he plans to sell the car at 25% discount on Mars selling price but still wants to make a profit of 15% on his cost what should be the mark selling price of the car



Answer :

SOLUTION

Cost price =1500

Selling price =?

Percentage Profit =15%

Profit is

[tex]\begin{gathered} \frac{15}{100}\times1500 \\ =225 \\ \end{gathered}[/tex]

Selling price = Cost Price + Profit

Selling price = 1500+225

Selling price= 1725

Since he also wants to give a 25% discount,

The marked selling price can be gotten;

[tex]\begin{gathered} \frac{x-1725}{x}\times100=25 \\ 100x-172500=25x \\ \text{Collect the like terms} \\ 100x-25x=172500 \\ 75x=172500 \\ \text{Dividing both sides by 75} \\ \frac{75x}{75}=\frac{172500}{75} \\ x=2300 \end{gathered}[/tex]

The mark selling price of the car is 2300

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