A toy store’s percent of markup is 45%. A model train costs the store $50. Find the markup.

Question

$111.11

$22.50

$27.50

$72.50

Answer 1

To find the markup, we first need to calculate the selling price of the model train.

Let x be the selling price. Since the percent of markup is 45%, the selling price is 145% of the cost price.

Therefore, selling price = 1.45 * $50 = $72.50

Now, we can find the markup by subtracting the cost price from the selling price:

Markup = $72.50 - $50 = $22.50

Therefore, the markup is $22.50.

The answer is: $22.50