Question

Carlos purchased an antique chair for $56.He later sold the chair for $68 to an antiquedealer. What was the percent markup of thechair?

Answer 1

Problem

Carlos purchased an antique chair for $56.

He later sold the chair for $68 to an antique

dealer. What was the percent markup of the

chair?

Solution

for this case we can use the following formula to find the markup %

% Change = (New -Before)/Before *100

And we got:

% Change = (68-56)/56 *!00 = 21.43%

So then the answer for this case would be 21.43%