Question

A department store buys 100 shirts at a cost of $ 1,200 and sells them at a selling price of $ 20 each. Find the percent markup.

Answer 1

Percentage mark-up = S. P - C.P /C.P x100%

From the question given,

C.P = $1200

S.P = 20 x 100 = $2000

=800 /1200 x100%

= 66.67 %

but you would have to round, so in that case it would be 67%

Answer 2

Percentage mark-up = S. P - C.P /C.P x100%

From the question given,

C.P = $1200

S.P = 20 x 100 = $2000

`\text{percentage mark-up=}(2000-1200)/(1200)*100percent`

=800 /1200 x100%

= 66.67 %