Question

A store pays $11 for a set of spoons and marks the price up by 30%. What is the amount of the markup?

Answer 1

`\$3.3`

Explanation:

Given:

Amount paid by a store for a set of spoons = $11

Percentage increase in price = 30%

To find: amount of the mark up

Solution:

To find amount of the mark up, find 30% of (amount paid by a store for a set of spoons)

Amount of the mark up =
`(30)/(100) (11)=\$3.3`