Question

The Horizons Cycle Shop bought 3 motorcycles for $2,100, and sold each one for $1,000. The markup percent was:

A. 33 1/3 percent.
B. 30 percent.
C. 142 percent.
D. 50 percent.
E. There is not enough information to determine the markup.

Answer 1

B. 30 percent

Step-by-step explanation:

Based on the selling price, the markup percent is determined as the difference of the selling price and the cost. divided by the selling price.

Since 3 motorcycles were sold at $1,000 each, total sales are $3,000, and the markup percent is:

`MU=(sales-cost)/(sales) *100\%\\MU=(\$3,000- \$2,100)/(\$3,000) *100\%\\MU=30\%`

B. 30 percent.