Question

A department store buys 400 shirts at a cost of ​$3200 and sells them at a selling price of ​$10 each. Find the percent markup.

Answer 1

25%

Explanation:

The cost for one shirt is ...

$3200/(400 shirts) = $8/shirt

The equation for markup is ...

selling price = cost(1 +markup fraction)

Solving for the markup, we find ...

markup fraction = (selling price)/cost -1

= 10/8 -1 = 2/8 = 1/4 = 25%

The markup is 25%.