Question

The retail price of a stethoscope is $143.00 if the wholesale price before markup was 128 what was the markup percent

Answer 1

Consider that the markup percentage, markup price, and retail price are related as,

`\text{ Markup percent}=\frac{\text{ Retail Price}-\text{ Markup Price}}{\text{ Marked Price}}\cdot100`

According to the given problem,

`\begin{gathered} \text{ Markup Price}=128 \\ \text{Retail Price}=143 \end{gathered}`

Substitute the values,

`\begin{gathered} \text{ Markup percent}=(143-128)/(128)\cdot100 \\ \text{ Markup percent}=(15)/(128)\cdot100 \\ \text{ Markup percent}=11.71875 \end{gathered}`

Thus, the markup percentage value is 11.71875%.