Question

A retailer buys pants at $28.00 and sells them for $42.00. The percent of markup on cost is

Answer 1

30% is the answer to the question.

Answer 2

The markup percentage is 50%.

Explanation:

The percentage of markup could be calculated by dividing the profit of the pants by the retailer price. In this case we can calculate the profit and then the markup percentage, this is:

`Profit=42.00-28.00=14.00`

The profit is $14.00, now we can calculate the markup percentage:

`Markup=(14.00)/(28.00) =0.5`

Now the percentage:

`Markup=0.5*100=50`

The markup percentage is 50%.