Question

The store bought a jacket for $50, and it sold it for $80. What percentage was the markup?

Answer 1

To find the markup percentage, you can use the formula:

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

In this case:

- Cost Price = $50
- Selling Price = $80

Now, plug these values into the formula:

\[
\text{Markup Percentage} = \left( \frac{80 - 50}{50} \right) \times 100
\]

\[
\text{Markup Percentage} = \left( \frac{30}{50} \right) \times 100
\]

\[
\text{Markup Percentage} = 0.6 \times 100 = 60\%
\]

Therefore, the markup percentage is **60%**.