Question

Juanita sold a scarf for $24. Her wholesale cost was $10. What was the percent markup?

Answer 1

Juanita's percent markup on the scarf was calculated by subtracting the wholesale cost from the sales price, dividing by the wholesale cost, and multiplying by 100%. The percent markup was found to be 140%.

Step-by-step explanation:

To calculate the percent markup that Juanita made on the scarf, we need to use the following formula:

• 
  
• Percent Markup = ((Selling Price - Wholesale Cost) / Wholesale Cost) × 100%

If Juanita sold the scarf for $24 and her wholesale cost was $10, then we have:

• 
  
• Percent Markup = (($24 - $10) / $10) × 100% = (14 / 10) × 100% = 1.4 × 100% = 140%

So, Juanita's percent markup on the scarf was 140%.