Question

A pet store sells a large dog cage for $98.50 the wholesale cost is 63.55 what is the percent of markup? Round to the nearest percent.

Answer 1

We know that

• The large dog cage costs $98.50.

,

• The wholesale costs $63.55.

The markup is the difference between the wholesale and the retailer price, that is, it represents the earnings. Let's subtract.

`98.50-63.55=34.95`

Then, we divide to find the percentage.

`(34.95)/(63.55)\approx0.55`

We multiply by 100 to express the number in percentage.

`0.55\cdot100=55`

Therefore, the markup percent is 55%, approximately.