Question

What was the mark up percent on a 217.50 item if the purchase price was 150

Answer 1

The markup percent was 45%.

Explanation:

You can use the following formula to calculate the mark up percentage:

Markup percentage= ((Selling price – unit cost) / unit cost)*100%

Selling price= $217.50

Unit cost= $150

Now, you can replace the values on the formula:

Markup percentage= ((217.50-150)/150)*100

Markup percentage=(67.5/150)*100

Markup percentage=0.45*100

Markup percentage=45%

According to this, the answer is that the markup percent was 45%.