Final answer:
To find the percent markup, subtract the cost price from the selling price and divide by the cost price, then multiply by 100. The percent markup is ($7.85/$24.00) * 100 = 32.71%.
Step-by-step explanation:
To find the percent markup, we need to calculate the difference between the selling price and the cost price, and then divide that by the cost price. In this case, the selling price is $31.85 and the cost price is $24.00.
The difference is $31.85 - $24.00 = $7.85.
Now, divide $7.85 by $24.00 and multiply by 100 to find the percent markup.
The percent markup is ($7.85/$24.00) * 100 = 32.71%.