Question
A craft store makes baskets for $12.50 and sells them for $16.75. what is the percentage markup on each basket based on cost?
Answers
Reiny
profit = 16.75-12.50 = ...
Percentage markup based on cost
= profit/12.5* 100 %
= ...
Percentage markup based on cost
= profit/12.5* 100 %
= ...
Chelle
Total Cost: $12.50 > old price
Selling Price: $16.75 > new price
(selling price - total cost)/ total cost
16.75 - 12.75 = 4.25
4.25/12.50 = 0.34 > move decimal two places the right, or multiply 0.34 x 100
Answer: 34%
Selling Price: $16.75 > new price
(selling price - total cost)/ total cost
16.75 - 12.75 = 4.25
4.25/12.50 = 0.34 > move decimal two places the right, or multiply 0.34 x 100
Answer: 34%