Question

A store buys a bicycle at wholesale for $120. They mark up the bicycle $150. What is the markup percentage?

Answer 1

Percentages

They marked up the bicycle price by $150 - $120 = $30

So, we want to know what percentage of $120 equals $30.

We have the following equivalence:

$30 → ?

$120 → 100%

If we divide both sides we have equal results:

`\begin{gathered} (30)/(120)=\frac{\text{?}}{100} \\ (3)/(12)=(?)/(100) \\ (1)/(4)=(?)/(100) \end{gathered}`

We multiply by 100 both sides in order to find the unknown value

`\begin{gathered} (1)/(4)\cdot100=(?)/(100)\cdot100 \\ 25=\text{?} \end{gathered}`

Answer: the markup percentage is 25%