Question

A store owner bought a painting for $120. She is selling it for $190. What is the percent markup on the painting

Answer 1

The markup percent on the painting is 58.3%

Explanation:

Here, The Cost price of the painting = $120

The selling price of the painting = $190

Hence, the total profit on the painting = Cost Price - Selling price

or Profit = $190 - $120 = $70

Now, Markup % = (Gross Profit / cost) x 100

⇒Markup % =
`(70)/(120)  * 100 = 58.3`

Hence, the markup percent on the painting is 58.3%