Question

Patios Plus sold an outdoor lighting set for $119.95. The Markup on the set was $25.99. Find the selling price as a percent of cost. Round to the nearest percent

Answer 1

The selling price as a percent of the cost is given by the ratio between the selling price and the the cost. The selling price is given, which is $119.95 the cost is given by the difference between the selling price and the Markup($25.99). Combining all those informations in an equation, we have

`(119.95)/(119.95-25.99)=1.27660706684\ldots`

To write this as a percentage, we just multiply the ratio by 100.

`1.27660706684\ldots*100=127.660706684\ldots\approx128`

The selling price is 128% of the cost.