Question

Find the percent markup. Cost of a hat $26.00, selling price $24.70

Answer 1

The cost of the hat is $26.00

The selling price is $24.70

To determine the percentage of change, first calculate the difference (d) between the cost of the hat and the selling price

`\begin{gathered} d=26-24.70 \\ d=1.30 \end{gathered}`

Next, divide this difference by the cost of the hat and multiply it by 100

`((1.30)/(26))\cdot100=5`

The percent parkup is 5%