Question

X 3.5.PS-12

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A department store buys 400 shirts at a cost of $9,600 and sells them at a selling price of $30 each.
Find the percent markup.
The percent markup is
%. (Round to the nearest whole number as needed.)​

Answer 1

The percent markup is 25%.

Explanation:

Percent markup:

The percent markup is given by the difference in selling price and buying price multiplied by 100% and divided by the buying price.

A department store buys 400 shirts at a cost of $9,600

This means that the buying price is:

$9600/400 = $24

Find the percent markup.

Buying price: $24

Selling price: $30

30 - 24 = 6

6*100%/24 = 25%

The percent markup is 25%.