Question

Sherry owns a car business. She just received a shipment of Volkswagen SUVs. She paid $60,000 for each vehicle and wants to make 25% on each car sale. What is Sherry's selling price?.

Answer 1

The selling price of the price that is offered to the buyer of the goods. The selling price of the car should be $75,000.

What is the selling price?

The selling price is the ultimate value of the goods the seller is willing to offer to the buyer at the time of sale. It is determined by adding up the profit margin to the actual cost of the goods.

The computation of the selling price of the car:

Given,

• Cost price =$60,000
• Margin =25%

$\begin{aligned}\text{Selling Price}&=\text{Cost Price}+\text{Margin}\\&=\ 60,000+(\ 60,000\times25\%)\\&=\ 60,000+\ 15,000\\&=\ 75,000\end{aligned}$

Therefore, if Sherry wants to make 25% on the sale of each car then the car must be sold at $75,000 each.

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