Question

Mikka is making jewelry for a craft show. The wholesale cost of a bracelet is $12.50. If she sells them for $20, what is the percent of markup? The percent of markup of the bracelets is _____%.

a. 30%
b. 37.5%
c. 42.85%
d. 60%

Answer 1

The percent of markup on the bracelet is 60%, found by dividing the difference between the selling price and the wholesale cost by the wholesale cost and then multiplying by 100.

Step-by-step explanation:

The question asks us to calculate the percent of markup on a bracelet that is bought for $12.50 and sold for $20. To find the percent of markup, we first determine the markup in dollar terms by subtracting the wholesale cost from the selling price. In this case, that would be $20 - $12.50 = $7.50. Next, we find the percent increase from the wholesale cost to the selling price by dividing the dollar markup by the wholesale cost and multiplying by 100, so ($7.50 / $12.50) * 100 = 60%. Therefore, the percent of markup on the bracelet is 60%, which corresponds to option d.