A store that buys and sells used video games buys a game at a cost of ​$9 and sells it at a selling price of ​$10. Find the markup. Then find the percent markup.

Answer 1

To find the markup, you can use the following formula:

\[ \text{Markup} = \text{Selling Price} - \text{Cost Price} \]

Given:

• Cost Price = $9
• Selling Price = $10

Substituting the values into the formula:

\[ \text{Markup} = 10 - 9 = 1 \]

So, the markup is $1.

Next, to find the percent markup, you can use the formula:

\[ \text{Percent Markup} = \left( \frac{\text{Markup}}{\text{Cost Price}} \right) \times 100% \]

Now substituting the values:

\[ \text{Percent Markup} = \left( \frac{1}{9} \right) \times 100% \approx 11.11% \]

Therefore, the markup is $1, and the percent markup is approximately 11.11%.