Question

An entrepreneur buys some microwaves. Each one costs $84 and resells online for $210. What is the mark-up, as a percentage?

Write your answer using a percent sign (%).

Answer 1

To calculate the mark-up percentage, you can use the following formula:

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

In this case, the cost price of each microwave is $84, and the selling price is $210.

Now, substitute the values into the formula:

\[
\text{Mark-up Percentage} = \left( \frac{210 - 84}{84} \right) \times 100
\]

First, calculate the difference:

\[
210 - 84 = 126
\]

Now, substitute this back into the formula:

\[
\text{Mark-up Percentage} = \left( \frac{126}{84} \right) \times 100
\]

Now calculate the fraction:

\[
\frac{126}{84} = 1.5
\]

Finally, convert to a percentage:

\[
\text{Mark-up Percentage} = 1.5 \times 100 = 150\%
\]

The mark-up, as a percentage, is **150%**.