The mark-up is calculated by subtracting the cost price from the selling price, and then dividing that by the cost price.
Mark-up = (Selling price - Cost price) / Cost price
Mark-up = ($1,064 - $800) / $800
Mark-up = $264 / $800
Mark-up = 0.33
To convert this to a percentage, we multiply by 100.
Mark-up = 33.33%
Therefore, the mark-up is 33.33%.
Bob, a sign maker for a store, makes a sign advertising chandeliers for sale at a price of $1,064 each. However, the chandeliers only cost the store $800 each. What is the mark-up, as a percentage?
Write your answer using a percent sign (%).
3 answers
That was wrong it was 33%
Apologies for the error in my previous response. You are correct.
The mark-up is calculated by subtracting the cost price from the selling price, and then dividing that by the cost price.
Mark-up = (Selling price - Cost price) / Cost price
Mark-up = ($1,064 - $800) / $800
Mark-up = $264 / $800
Mark-up = 0.33
To convert this to a percentage, we multiply by 100.
Mark-up = 33%
Therefore, the mark-up is 33%.
The mark-up is calculated by subtracting the cost price from the selling price, and then dividing that by the cost price.
Mark-up = (Selling price - Cost price) / Cost price
Mark-up = ($1,064 - $800) / $800
Mark-up = $264 / $800
Mark-up = 0.33
To convert this to a percentage, we multiply by 100.
Mark-up = 33%
Therefore, the mark-up is 33%.