The buyer for a chain of stores purchased hockey sticks in bulk, paying $30 each. The stores will sell each hockey stick for $66. What percentage is the mark-up?

Question

Write your answer using a percent sign (%).

Answer 1

To find the percentage mark-up, we can use the formula:

\[ \text{Mark-up percentage} = \left( \frac{\text{Selling Price} - \text{Cost Price}}{\text{Cost Price}} \right) \times 100 \]

In this case:

• Cost Price = $30
• Selling Price = $66

First, calculate the mark-up amount:

\[ \text{Mark-up amount} = \text{Selling Price} - \text{Cost Price} = 66 - 30 = 36 \]

Next, plug the values into the formula:

\[ \text{Mark-up percentage} = \left( \frac{36}{30} \right) \times 100 \]

Now, calculate the fraction:

\[ \frac{36}{30} = 1.2 \]

Then, multiply by 100 to convert to a percentage:

\[ 1.2 \times 100 = 120% \]

Thus, the mark-up percentage is

\[ \boxed{120%} \]