Question

We buy these products for 50dollars and then sell them for 67.00 this mean that our price Mark up is what

Answer 1

It means the price markup is 34%.

How is this so?

To calculate the price markup percentage, you can use the following formula:

`\[ \text{Markup Percentage} = \left( \frac{\text{Selling Price} - \text{Cost Price}}{\text{Cost Price}} \right) * 100 \]`

Given your information:

- Cost Price = $50

- Selling Price = $67

`\[ \text{Markup Percentage} = \left( (67 - 50)/(50) \right) * 100 \]`

`\[ \text{Markup Percentage} = \left( (17)/(50) \right) * 100 \]`

`\[ \text{Markup Percentage} = 0.34 * 100 \]`

`\[ \text{Markup Percentage} = 34\% \]`

Therefore, the price markup is 34%.