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A car dealership sells a foreign-built Mustang model carfor £67,500. If the exchange rate is...

A car dealership sells a foreign-built Mustang model car for £67,500. If the exchange rate is £1.29/$ and the car costs $49,250, what is the markup?

Solutions

Expert Solution

Sale price in Pound = £67,500
Fx rate = £1.29/$
Sales price in USD = $      87,075
67500*1.29
cost = $      49,250
Mark up = $      37,825
87075-49250
Mark up % on sales = 43.44%
37825/87075
Ans = 43.44%

jeff jeffy answered 2 years ago
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