A store bought a jacket for $60, and it is sold for $75. What percentage was the markup?

Answer 1

To calculate the percentage markup, you can use the formula:

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

In this case, the cost price (CP) is $60 and the selling price (SP) is $75.

1. Calculate the markup: \[ \text{Markup} = \text{Selling Price} - \text{Cost Price} = 75 - 60 = 15 \]

2. Calculate the percentage markup: \[ \text{Percentage Markup} = \left( \frac{15}{60} \right) \times 100 = 0.25 \times 100 = 25% \]

Therefore, the percentage markup is 25%.