Question


A retailer sells maps of the world for $3.93 that were acquired at a cost of $3. What percentage is the mark-up?
GPT 3.5
The mark-up can be calculated using the following formula:

Mark-up = (Selling Price - Cost Price) / Cost Price

Mark-up = ($3.93 - $3) / $3 = $0.93 / $3 ≈ 0.31

Now, to find the percentage mark-up, multiply the result by 100:

Percentage mark-up = 0.31 * 100 ≈ 31%

Therefore, the mark-up percentage is approximately 31%.

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