Asked by Heyhi
Javier has a worm business in which he buys night crawlers from younger kids for 4 cents each and sells them for $1.25 per dozen. What is the percent markup on cost, to the nearest tenth of a percent?
a. 160.4%
b. 61.6%
c. 96.8%
d. 3.025%
a. 160.4%
b. 61.6%
c. 96.8%
d. 3.025%
Answers
Answered by
Reiny
cost price = 12(4) cents = 48 cents/dozen
selling price = 125 cents/dozen
profit = 77 cents/dozen
markup = 77/48 x 100% = 160.4%
selling price = 125 cents/dozen
profit = 77 cents/dozen
markup = 77/48 x 100% = 160.4%