Question

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?

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

\[
\boxed{120\%}
\]