Question

A department store buys 300 shirts at a cost of ​$2,400 and sells them at a selling price of ​$10 each. Find the percent markup.

Answer 1

67%

Explanation:

Given : A department store buys 300 shirts at a cost of $1800 .

Then By unitary method , the cost of one shirt = Cost of 300 shirts divided by 300

= $1800 ÷ 300 = $6

i.e. cost of one shirt = $6

Also, Selling price of one shirt = $10

Price mark up = Selling price - Cost price

= $10-$6 = $4

The percent mark up=

(rounded to the nearest percent)

Hence, the percent markup = 67%