Final answer:
The percent markup on each shirt is calculated by subtracting the cost price from the selling price, dividing the result by the cost price, and then multiplying by 100, resulting in a percent markup of 66.67%.
Step-by-step explanation:
The question asks us to calculate the percent markup for shirts sold by a department store. The store buys 300 shirts at a cost of $1,800 and then sells them for $10 each. To find the percent markup, we apply the markup formula: percent markup = ((selling price - cost price) / cost price) * 100.
First, we find the cost per shirt: $1,800 / 300 shirts = $6 per shirt. Next, we use the selling price of $10 per shirt to calculate the markup amount per shirt: $10 - $6 = $4. Now, we can find the percent markup: ($4 / $6) * 100 = 66.67%. The percent markup on each shirt is 66.67%.