Question

A store employee creates a display of picnic tables priced at $66 apiece. The store paid $30 for each picnic table. What is the mark-up percentage?

Write your answer using a percent sign (%).

Answer 1

To find the mark-up percentage, we need to determine the difference between the selling price and the cost price, and then express that difference as a percentage of the cost price.

The difference between the selling price ($66) and the cost price ($30) is $66 - $30 = $36.

To express this difference as a percentage of the cost price, we divide the difference by the cost price and then multiply by 100.

Percentage mark-up = (Difference / Cost price) * 100
= ($36 / $30) * 100
= 1.2 * 100
= 120%

Therefore, the mark-up percentage is 120%.