keelahs clothing store buys coats for $50 and then sells them for $80. what is the percent of mark up on the price of the coat
Mathematics · Middle School · Thu Feb 04 2021
Answered on
Given the statement:
Keelahs clothing store buys coats for $50 and then sells them for $80.
Determine the percent of markup of the price of the coat.
Solution:
In order to determine the percent of markup we simply need to subtract 80 by 50, then divide the difference by 50.
= 80 - 50
= 30
= 30/50
= 0.6
Since we are given a decimal answer, in order to convert it into percentage, we multiply the decimal by 100. Hence, in converting a percentage into decimal, we divide the percentage by 100.
= (0.6)(100)
= 60%
Final answer:
The percent markup is 60%