Question

The cost of a kayak is $2,450 and the selling price is $3,560 find the nearest percent of markup on the selling price. round to the nearest tenth of a percent.

Answer 1

well, the markup or the bumped up amount is 3560 - 2450 = 1110.

if we take 2450 to be the 100%, what is 1110 off of it in percentage?

`\begin{array}{ccll} amount&\%\\ \cline{1-2} 2450 & 100\\ 1110& x \end{array} \implies \cfrac{2450}{1110}~~=~~\cfrac{100}{x}\implies \cfrac{245}{111}~~=~~\cfrac{100}{x} \\\\\\ 245x=11100\implies x=\cfrac{11100}{245}\implies x\approx 45.3`