Question

It costs Charlie's Car Repair Shop $30 to change the oil. The shop charges their customers $42 for an oil change. What is the percent markup in the cost of an oil change?

Answer 1

To calculate the percent markup for an oil change, subtract the cost price from the selling price, divide the result by the cost price, and multiply by 100. The markup is 40%.

Step-by-step explanation:

The question involves calculating the percent markup on an oil change service. To find the percent markup, you first need to calculate the difference between the selling price and the cost price, then divide this difference by the cost price, and finally multiply the result by 100 to get the percentage.

Step-by-Step Calculation

Compute the difference between selling price ($42) and cost price ($30), which is $42 - $30 = $12.

Divide the difference by the cost price: $12 / $30 = 0.4.

Multiply by 100 to convert to a percentage: 0.4 * 100 = 40%.

Therefore, Charlie’s Car Repair Shop has a 40% markup on their oil changes.