Question

I know I'm using this app a ton today.

...A store pays $261 for a diving board and marks the price up by 45%. What is the amount of the mark-up?

Answer 1

well, what's 45% of 261?

`\begin{array} \cline{1-1} \textit{\textit{\LARGE a}\% of \textit{\LARGE b}}\\ \cline{1-1} \\ \left( \cfrac{\textit{\LARGE a}}{100} \right)\cdot \textit{\LARGE b} \\\\ \cline{1-1} \end{array}~\hspace{5em}\stackrel{\textit{45\% of 261}}{\left( \cfrac{45}{100} \right)261}\implies \text{\LARGE 117.45}`

Answer 2

If the store marks up the price of the diving board by 45%, the selling price will be 100% + 45% = 145% of the cost price.

Let's calculate the selling price:

Selling price = Cost price + Mark-up

Mark-up = Selling price - Cost price

Mark-up = (145% of cost price) - cost price

Mark-up = 0.45 * cost price

We know that the store paid $261 for the diving board, so:

Mark-up = 0.45 * $261 = $117.45

Therefore, the amount of the mark-up is $117.45.