Javier has a worm business in which he buys night crawlers from younger kids for 4 cents each and sells them for $1.25 per dozen. What is the percent markup on cost, to the nearest tenth of a percent?

Question

Javier has a worm business in which he buys night crawlers from younger kids for 4 cents each and sells them for $1.25 per dozen.  What is the percent markup on cost, to the nearest tenth of a percent?
	a. 160.4%
	b. 61.6%
	c. 96.8%
	d. 3.025%

Reiny · Answer

cost price = 12(4) cents = 48 cents/dozen selling price = 125 cents/dozen profit = 77 cents/dozen markup = 77/48 x 100% = 160.4%