A store that buys and sells used video games buys a game at a cost of ​$415 and sells it at a selling price of ​$477.25. Find the markup. Then find the percent markup.

Question

The markup is

Answer 1

$62.25.

To find the markup, subtract the cost from the selling price: $477.25 - $415 = $62.25

Now, to find the percent markup, divide the markup by the cost and then multiply by 100:

($62.25 / $415) x 100 = 0.15 x 100 = 15%

Therefore, the percent markup on the used video game is 15%.