A store owner bought rocking chairs for $30 and sold them for $78. What is the mark-up, as a percentage?

Answer 1

The mark-up can be calculated as follows:

Mark-up = Selling price - Cost price
Mark-up = $78 - $30
Mark-up = $48

Now, to calculate the mark-up percentage, we use the formula:

Mark-up Percentage = (Mark-up / Cost Price) * 100
Mark-up Percentage = ($48 / $30) * 100
Mark-up Percentage = 1.6 * 100
Mark-up Percentage = 160%

Therefore, the mark-up percentage for the rocking chairs is 160%.