Question

Carlos purchased an antique chair for $15 he later so this year for $27 to an antique dealer what was the percent markup of the chair

Answer 1

Answer: The required percent markup is 80%.

Step-by-step explanation: Given that Carlos purchased an antique chair for $15 and later he sold it this year for $27 to an antique dealer.

We are to find the percent markup of the chair.

The markup price of the chair is given by

`m_p=\$(27-15)=\$12.`

Since Carlos purchased the chair for $15, so the markup percent is given by

`(m_p)/(15)*100\%\\\\\\=(12)/(15)*100\%\\\\\\=(4)/(5)*100\%\\\\=80\%.`

Thus, the required percent markup is 80%.

Answer 2

Okay. So, to find the percent change, we have to do change/original. In this case, it would be 12/15, because 15 and 27 are apart by 12. 12/15 is 0.8. Multiply that by 100 and you get 80. There was an 80% markup of the chair sold to the antique dealer.