Question

A toy shop purchases 125 identical stuffed animals for a total cost of $312.50 and sells them for $7 each.What is the percent markup?

Answer 1

i feel like the answer is Answer:: 180%.

Answer 2

The number of identical stuffed animals given = 125.

The total purchase cost of the animals = $312.50.

Sellins price for each of them = $7.

So total selling price of 125 animals = $
`(125)(7)` = $
`875`.

Now we have to find percentage markup.

The formula to find percent mark up is

=
`(((selling price -cost price))/(cost price))(100)`%

=
`(((875-312.50))/(312.50) )(100)`%

=
`((562.50)/(312.50) )(100)`%

=
`(1.8)(100)`%

=
`180`%

So we have got the required answer.

The percent mark up is 180%.