Question

A department store buys 400 shirts at a cost of ​$6,400 and sells them at a selling price of ​$20 each. Find the percent markup.

Answer 1

`25 \%`

Explanation:

The department store is buying each shirt for:

`(6400)/(400)=\$ 16` each.

Therefore, the percent markup is:

`100 \cdot (20-16)/(16)=\fbox{$25\%$}`.