Question

How do you solve this i mean how do you get the profit?

Answer 1

a) To calculate the percent markup, we need to divide the profit by the original cost and multiply by 100 to express it as a percentage:
Markup = (Selling price - Cost) / Cost * 100
Markup = (8.50 - 5) / 5 * 100 = 70%
So the markup on the item was 70%.
b) To find the total profit, we need to subtract the original cost from the selling price:
Profit = Selling price - Cost
Profit = 8.50 - 5 = 3.50

Answer 2

a) To calculate the percent markup, we need to divide the profit by the original cost and multiply by 100 to express it as a percentage:

Markup = (Selling price - Cost) / Cost * 100

Markup = (8.50 - 5) / 5 * 100 = 70%

So the markup on the item was 70%.

b) To find the total profit, we need to subtract the original cost from the selling price:

Profit = Selling price - Cost

Profit = 8.50 - 5 = 3.50

So the total profit on the item was $3.50.