Question

Ross buys and sells surfboards he purchased a used surfboard for 200 dollars, fixes it up, then sells it for 320 what is the percent mark up

Answer 1

The percent markup on the surfboard is 60%.

Step-by-step explanation:

The formula to calculate the percent markup is:

Percent Markup = ((Selling Price - Cost Price) / Cost Price) * 100%

Using the given values, the cost price of the surfboard is $200 and the selling price is $320. Plugging these values into the formula:

Percent Markup = ((320 - 200) / 200) * 100% = 60%

Therefore, the percent markup on the surfboard is 60%.