Question

A department store buys 100 shirts at a cost of ​$700 and sells them at a selling price of ​$10 each. Find the percent markup

Answer 1

30%

Explanation:

The price for each shirt to buy is: $ 700/100 = $ 7 / each

Selling price is: $ 10 / each

So the difference between the selling and buying prices is: $ 10 - $ 7 = $ 3

So 100 each, the interest is: $ 3 X100 = $ 300 => 30%