The cost to a store for a box of cereal is $2.50. The store is selling the cereal for $3.50. What is the percent of the markup?
Mathematics · High School · Tue Nov 03 2020
Answered on
Given:
Cost to a store for a box of cereal: $2.50
Selling price: $3.50
Determine the percent markup or percentage increase.
Solution:
Subtract the original price to the selling price, in order to determine how much was increased.
= $3.50- $2.50
=$1
Divide 1 by the original price to determine what percentage is it.
= $1 / $2.50
= 0.4
Convert the given decimal into percentage. In order to do so multiply the decimal by 100, hence in converting a percentage into decimal, we divide it by 100.
= (0.4)(100)
= 40%
The percent of markup is 40%.