Question

The manager of a clothing store purchased 40 pairs of jeans for $500. She plans to sell each pair of jeans for $19.99. By what percent did she mark up the price?

A.
60%

B.
12.5%

C.
10%

D.
7.5%

Answer 1

60%

Explanation:

Formula: Markup Percentage = Selling Price Per Unit - Cost Price Per Unit over Cost price per unit. times 100

$19.99 - 12.5

------------------- times 100

12.5

Follow PEMDAS

7.49 / 12.5 = 0.5592 (100) = 59.92

Round to the nearest whole number. So about 60%