Question

A department store buys 500 shirts at a cost of $12,000 and sells them at a selling price of $30 each. Find the

percent markup.

Answer 1

25%

Explanation:

Step one:

given

number of shirts= 500

cost of all the shirts= $12000

unit cost of shirt= 12000/500

=$24

the selling price = $30

the profit per shirt= selling price-cost price

30-24=$6

Required

% mark up

% mark up=( profit/cost price)*100

% mark up=( 6/24)*100

% mark up=0.25*100

% mark up=25%

Hence the % mark up is 25%