Question

A retailer purchases baseball gloves from a wholesaler at $10 per unit. The retailer sells those gloves for $15 per unit. What is this retailer's markup?

Answer 1

The retailer's markup is 50%.

Step-by-step explanation:

The retailer's markup can be calculated by subtracting the cost price from the selling price and expressing the difference as a percentage of the cost price.

In this case, the cost price is $10 and the selling price is $15. Therefore, the markup is:

Markup = (Selling price - Cost price) / Cost price * 100%

Markup = ($15 - $10) / $10 * 100%

Markup = 50%