Question

The buyer for a chain of stores purchased lawn ornaments in bulk, paying $23 each. The stores will sell each lawn ornament for $37.08. What is the mark-up percentage?

Answer 1

The markup percentage is 61.2

Explanation:

Given as :

The cost price of each ornaments = $23

The sell price of each ornament = $37.08

Let The markup percentage = x

Now, According to question

Markup percentage =
`(s.p - c.p)/(c.p)` × 100

Or, x% =
`(37.08 - 23)/(23)`

Or, x% =
`(14.08)/(23)`

Or, x% = 0.612

∴ x = 0.612 × 100

I.e x = 61.2

So, The The markup percentage = x = 61.2

Hence, The markup percentage is 61.2 Answer