Answer:
The markup amount of the car is [tex]500\[/tex]
Explanation:
Markup is the amount added to the cost price of the goods to cover the profit and overhead or it is the difference between selling price and cost price of the goods or services.
Given that, the cost price of the car is [tex]10000\[/tex]
The percentage increase on the cost price is [tex]5\%[/tex]
Here the formula for the markup amount is given by,
[tex]markup = original cost\times percentage markup[/tex]
On substituting the values we get, markup = 10000\times5\%
[tex]=>[/tex] [tex]10000\times\frac{5}{100}[/tex][tex]= 5\times100[/tex]
Therefore, the markup amount is 500.
