Question

For your sports equipment store, you purchase a case containing 24 canisters of tennis balls for $60. You in turn charge $4 for each canister. How much is the price of each case of tennis balls marked up?

Answer 1

60%

Explanation:

Given data

we are told that 24 canisters cost $60

hence the cost per canister = 60/24= $2.5

The selling price per canister= $4

%mark up = selling price-cost price/cost price *100

Substitute

%mark up = 4-2.5/2.5 *100

%mark up = 1.5 /2.5 *100

%mark up = 0.6 *100

%mark up = 60%

Hence the percent mark up is 60%