A parka that sold for $65 is marked up to $70.20. What is the percent of markup?
Mathematics · Middle School · Mon Jan 18 2021
Answered on
Given the statement:
A parka that sold for $65 is marked up to $70.20.
Determine the percent markup.
Solution:
In order to determine the percent markup, we must first subtract 65 to 70.20, then we must divide the difference by 65.
= $70.20 - $65
= $5.20
= $5.20 / $65
= 0.08
Since we have a decimal answer, we can change it to percentage by simply multiplying 100, hence in changing a percentage to decimal, we must divide by 100.
= (0.08)(100)
= 8%
Final answer:
= 8%