Question

Roberto wants to raise money for new equipment by selling T-shirts. He pays $5.00 for each T-shirt and needs to raise $450. If 75 students order T-Shirts, by what percent must roberto markup the T-shirts to raise $450?

Answer 1

Answer: Mark up percent = 20%

Explanation:

Given: Cost price of each T-shirt = $5.00

Amount required = $450

Total students = 75

Market price for each T-shirt to raise the required amount = (Amount required ) ÷ 75

= $450 ÷ 75

= $ 6

Mark up percent =
`\frac{\text{Market price - Cost price}}{\text{Cost price}}*100`

`=(6-5)/(5)*100\\\\=20\%`

Hence, Mark up percent = 20%