Question

A retailer buys a pair of jeans for $25 and sells them for $59.99.

a) Find the percent markup.
b) What selling price represents a 150% markup?

Plsssss help solve....

Answer 1

a) 140%

b) $62.50

Explanation:

a) Since the new cost is $59.99, this is x percent marked up. The original cost is $25 and that is 100% of the cost. The mark up will be a percent over 100%. To find this percentage set up a proportion with these values:

`(59.99)/(25)=(x)/(100)`

Solve for the original price by cross multiplying numerator with denominator.

x(25) = 59.99(100)

25x = 5999

x= 239.96

Subtract 100 to find the amount marked over 100%.

239.96-100 = 139.96

140% marked up

b) To find the sale price of jeans marked up 150%, use the same proportion except x this time will be the new price. The percent will be 250% or 100% + 150% = 250%

`(x)/(25)=(250)/(100)`

Solve for the original price by cross multiplying numerator with denominator.

x(100) = 25(250)

100x = 6250

x= 62.50