A store that buys and sells used video games buys a game at a cost of ​$29 and sells it at a selling price of ​$38. Find the markup. Then find the percent markup.

Answer 1

To find the markup and the percent markup, follow these steps:

Step 1: Calculate the markup

Markup is calculated by subtracting the cost from the selling price.

\[ \text{Markup} = \text{Selling Price} - \text{Cost} \] \[ \text{Markup} = $38 - $29 = $9 \]

Step 2: Calculate the percent markup

Percent markup is calculated by dividing the markup by the cost and then multiplying by 100 to convert it to a percentage.

\[ \text{Percent Markup} = \left( \frac{\text{Markup}}{\text{Cost}} \right) \times 100 \] \[ \text{Percent Markup} = \left( \frac{9}{29} \right) \times 100 \approx 31.03% \]

Summary:

• Markup: $9
• Percent Markup: approximately 31.03%