Question

If the cost is $58.00 and the selling price is $63.00, then what is the percent of increase?

Answer 1

The percent of increase over the original cost ($58) is 8.6%.

Explanation:

The increase (markup) is $63-$58, or $5.

We find the markup (price increase) as follows:

$5

------------ = 0.0862, or 8.6%

$58

The percent of increase over the original cost ($58) is 8.6%.