Question

Market: $7Store: Markup is 350%What is the store's profit? Markup 350: Selling price: Customer receipt: How much is the shirt for the customer? what si the tax when the tax rate is 8.5%?What is the total?

Answer 1

Given the Market price of $7

If Markup is 350%

Store Profit will be expressed as:

350% of the Market price

= 350% of $7

= 350/100 * $7

= (35*7)/10

= 245/10

= $24.5

Hence the store's profit is $24.5