Question

A department store buys 500 shirts at a cost of ​$4000 and sells them at a selling price of ​$10 each. Find the percent markup.

Answer 1

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Answer:

25%

Explanation:

The markup is the difference between the selling price and the cost price.

markup = (500)($10) - $4000 = $1000

Then the percent markup of the cost price is ...

markup/(cost price) = $1000/$4000 × 100% = 25%

The percentage markup was 25%.