Question

Violet buys a dresser at a yard sale for $40. She decides to sell it online for a profit. If Violet wants to sell the dresser for at least $65, what is the smallest markup she can make to theoriginal price of the dresser?A. 60%B. 62.5%C. 65%D. 66.7%

Answer 1

Consider that the dresser costs $40 to Violet. So the cost price C is $40.

She wants to sell the dresser for at least %65,

Then the selling price S must be greater than or equal to $65,

`S\ge65`

Since there is no discount or any overhead expense, the selling price is the same as the marked price M,

`M\ge65`

Then the minimum marked price will be $65.

Therefore, option (C) is the correct choice (but the % symbol should not be there).