Question
A store purchased coffee tables for $20 and sold them for $47. What percentage is the mark-up?
Write your answer using a percent sign (%).
Write your answer using a percent sign (%).
Answers
GPT 3.5
The mark-up is calculated by subtracting the cost price from the selling price and then dividing it by the cost price.
Mark-up = (Selling Price - Cost Price) / Cost Price
Mark-up = ($47 - $20) / $20
Mark-up = $27 / $20
Mark-up = 1.35
To convert this to a percentage, we multiply by 100:
Mark-up % = 1.35 * 100
Mark-up % = 135%
Therefore, the mark-up percentage is 135%.
Mark-up = (Selling Price - Cost Price) / Cost Price
Mark-up = ($47 - $20) / $20
Mark-up = $27 / $20
Mark-up = 1.35
To convert this to a percentage, we multiply by 100:
Mark-up % = 1.35 * 100
Mark-up % = 135%
Therefore, the mark-up percentage is 135%.