Question

A department store buys 100 shirts at a cost of $1,200 and sells them at a selling price of $29 each. Find the percent markup

Answer 1

To find the percent markup, we can use the following formula:

Markup = (selling price - cost price) / cost price * 100

We know that the department store buys 100 shirts at a cost of $1,200 and sells them at a selling price of $20 each.

Markup = ($20 - $12) / $12 * 100

Markup = $8 / $12 * 100

Markup = 2/3 * 100

Markup = 67%

So the percent markup is 67%.