Question

A store bought a jacket for $60, and it is sold for $75. What percentage was the markup?

Answer 1

To calculate the markup percentage, you can use the following formula:

\[
\text{Markup Percentage} = \left( \frac{\text{Selling Price} - \text{Cost Price}}{\text{Cost Price}} \right) \times 100
\]

In this case:

- Cost Price = $60
- Selling Price = $75

Now, plug in the values:

\[
\text{Markup Percentage} = \left( \frac{75 - 60}{60} \right) \times 100
\]

\[
= \left( \frac{15}{60} \right) \times 100
\]

\[
= 0.25 \times 100
\]

\[
= 25\%
\]

Therefore, the markup percentage is **25%**.