Question

Camille Keegan sells lamps for $92.10 that cost her $62.00. What was Camille’s percent markup based on selling price?

Answer 1

Markup is the amount a certain seller is adding to the cost to get the selling price of her product. In this problem, Camille Keegan has the selling price of $92.10 and the cost is $62.00. To get the markup, you just have to deduct the cost from the selling price:

$92.10 - $62.00 = $30.10

To get the percent markup, you just have to divide the markup by the cost of the product:

$30.10/$62.00 = 48.55% markup