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1 vote
The cost to the store for a tv is $500. The store sells the tv for $640. What is the markup percent?

2 Answers

1 vote

Answer:

28%

Explanation:

Intuitively, we can figure out that 140 is the amount we need to markup by.

We know that 140 is 28% of 500, and therefore we can conclude that the markup is 28%. We may check our answer by multiplying 500 by 128%, or 1.28, which yields the result of 640. By the "definition" of what a markup is, the markup will only be 28%, not 128%, since it implies that you are already withholding the original cost, just adding more.

User Chucho
by
8.3k points
3 votes

Answer:

22% Rounded 21.875% Normal

Explanation:

Markup = profit / cost * 100%

User MaxOvrdrv
by
8.1k points

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