To calculate the markup percentage, you can use the following formula:
\[ \text{Markup Percentage} = \left( \frac{\text{Selling Price} - \text{Cost Price}}{\text{Cost Price}} \right) \times 100 \]
In this case:
- Cost Price = $60
- Selling Price = $75
Now, plug in the values:
\[ \text{Markup Percentage} = \left( \frac{75 - 60}{60} \right) \times 100 \]
\[ = \left( \frac{15}{60} \right) \times 100 \]
\[ = 0.25 \times 100 \]
\[ = 25% \]
Therefore, the markup percentage is 25%.