Question
A store bought a jacket for $60, and it is sold for $75. What percentage was the markup?
Answers
GPT-4o mini
To calculate the percentage markup, you can use the formula:
\[
\text{Percentage Markup} = \left( \frac{\text{Selling Price} - \text{Cost Price}}{\text{Cost Price}} \right) \times 100
\]
In this case, the cost price (CP) is $60 and the selling price (SP) is $75.
1. Calculate the markup:
\[
\text{Markup} = \text{Selling Price} - \text{Cost Price} = 75 - 60 = 15
\]
2. Calculate the percentage markup:
\[
\text{Percentage Markup} = \left( \frac{15}{60} \right) \times 100 = 0.25 \times 100 = 25\%
\]
Therefore, the percentage markup is **25%**.
\[
\text{Percentage Markup} = \left( \frac{\text{Selling Price} - \text{Cost Price}}{\text{Cost Price}} \right) \times 100
\]
In this case, the cost price (CP) is $60 and the selling price (SP) is $75.
1. Calculate the markup:
\[
\text{Markup} = \text{Selling Price} - \text{Cost Price} = 75 - 60 = 15
\]
2. Calculate the percentage markup:
\[
\text{Percentage Markup} = \left( \frac{15}{60} \right) \times 100 = 0.25 \times 100 = 25\%
\]
Therefore, the percentage markup is **25%**.