Question

A department store buys 100 shirts at a cost of $2,400 and sells them at a selling price of $30 each.

Find the percent markup.

Answer 1

percent markup = 25%

Explanation:

buys 100 shirts = $2400

buys 1 shirt = $2400/ 100

= $24

sells 1 shirt = $30

percent markup:

=[ ( selling price - bought price) ÷ bought price ] × 100

= [ (30-24) ÷ 24 ] × 100

= [ 6 ÷ 24 ] × 100

= 0.25 × 100

= 25 %

Answer 2

There is a 25% markup

Explanation:

First find the original cost of each shirt

$2400/ 100 shirts

$24/ shirt

Mark up = ( new price - original price) / original price

= ( 30-24) / 24

= 6/24

= 1/4

= .25

25%

There is a 25% markup