Question

The owner of an audio store received a shipment of portable stereos at a cost of $102.30 each. If he sells the stereos for $181.99 each, what is the percent of markup?

Answer 1

181.99 - 102.30 = 79.69

79.69/102.30 = 0.7789 = 77.9% markup

Answer 2

Given:

A shipment of portable stereos is received at a cost of $102.30 each and further sold at a price of $181.99 each.

To Find:

The percent of markup

Answer:

The percent of markup is 77.9%

Explanation:

We find the markup by first calculating the difference between the cost at which the store buys the shipment of portable stereos and selling price.

This difference is $(181.99-102.30) = $79.69

Next, we find the percentage of this difference as follows

`((79.69)/(102.30)) . 100=77.89`

Therefore, the percentage of markup is apprximately 77.9%