Question

Think About the Process  A store that buys and sells used video games buys a game at a cost of ​$19 and sells it at a selling price of ​$23. Find the markup. Then find the percent markup.

Answer 1

To find the markup and the percent markup of the video game, we can use the following formulas:

1. **Markup**: This is calculated as the selling price minus the cost price.

\[
\text{Markup} = \text{Selling Price} - \text{Cost Price}
\]

2. **Percent Markup**: This is calculated as the markup divided by the cost price, multiplied by 100 to convert it into a percentage.

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

Now, let's calculate the markup and percent markup:

### Step 1: Calculate the markup

- Cost Price = $19
- Selling Price = $23

\[
\text{Markup} = 23 - 19 = 4
\]

### Step 2: Calculate the percent markup

\[
\text{Percent Markup} = \left( \frac{4}{19} \right) \times 100
\]

Calculating the fraction:

\[
\frac{4}{19} \approx 0.2105
\]

Now, multiply by 100:

\[
0.2105 \times 100 \approx 21.05\%
\]

### Final Results:

- **Markup**: $4
- **Percent Markup**: approximately **21.05%**