Question
In: Finance
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 3 years agoRelated Solutions
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