Question

It cost 2.10 for a gourmet coffee shop to make a small latte.The price of a small latte is 2.94.What is the percent markup on the latte

Answer 1

40%

Explanation:

Given that :

Cost of production of small latte = 2.10

Sale price of small latte = 2.94

The Markup = Sale price of small latte - cost of production of small latte

The Markup = 2.94 - 2.10 = 0.84

Percentage Markup = (0.84 / 2.10) * 100%

Percentage Markup = 0.4 * 100% = 40%