Question

A store buys a pair of shoes for $40 and sells the shoes for $70.What was the percent markup?

Answer 1

EXPLANATION

Let's see the facts:

Buy price = $40

Sell price = $70

The markup percentage formula is:

`\text{Markup\%}=\frac{Sell\text{ price - cost}}{\cos t}\cdot100`

Substituting terms:

`\text{Markup\% = }(70-40)/(40)\cdot100\text{ = 75\%}`

The markup is 75%.