Question

a department store buys 300 shirts at a cost of 1800 and sells them for $10 each. find the percent markup rounded to the nearest percent

Answer 1

Answer: 67%

Explanation:

Given : A department store buys 300 shirts at a cost of $1800 .

Then By unitary method , the cost of one shirt = Cost of 300 shirts divided by 300

= $1800 ÷ 300 = $6

i.e. cost of one shirt = $6

Also, Selling price of one shirt = $10

Price mark up = Selling price - Cost price

= $10-$6 = $4

The percent mark up=
`\frac{\text{Mark up}}{\text{Cost price}}*100`

`=(4)/(6)*100=66.66666\%\approx67\%` (rounded to the nearest percent)

Hence, the percent markup = 67%