Question

A parka that sold for $65 is marked up to $70.20. What is the percent of markup?

Answer 1

When you're looking for the percent markup, you subtract the old price from the new price ($70.20-$65=$5.20). Then you put the difference over the original price ($5.20/$65) and multiply it by 100. Your answer is 8% markup.

Answer 2

8%

Explanation:

To be able to find the percent of markup, first you have to find the value of the markup:

$70.20-$65= $5.20

Then, you have to determine the markup value as a percentage of the original price :

($5.20/$65)*100= 8%

According to this, the percent of markup is 8%.