Kahn Motors purchased 2008 an off-lease Nissan Altima from the Nissan dealer for $9850 in 2012. Kahn Motors marked up the price by 20% of the regular selling price. After failing to sell it for 3 months, Kahn Motors decided to sell the car at a markdown of 15%. What is the final sale price of the car?

Question

Quizplus · Accepted Answer

First, we need to find the marked up price of the car:
Marked up price = $9850 + (20% x $9850) = $11,820
However, since the car did not sell, it was marked down by 15%:
Sale price = $11,820 - (15% x $11,820) = $10,465.63
Therefore, the final sale price of the car is $10,465.63. Option D is the only choice that matches this amount.

Kahn Motors Purchased 2008 an Off-Lease Nissan Altima from the Nissan