Question

The manager of a store orders model railroad sets that cost $390 and sells them for $429. What is the mark-up, as a percentage?

Answer 1

10%

Step-by-step explanation:

We have been given that the manager of a store orders model railroad sets that cost $390 and sells them for $429.

We will use markup % formula for our given problem.

`\text{Markup percentage}=\frac{\text{Selling price- Cost}}{\text{Cost}}* 100`

`\text{Markup percentage}=(429-390)/(390)* 100`

`\text{Markup percentage}=(39)/(390)* 100`

`\text{Markup percentage}=(1)/(10)* 100`

`\text{Markup percentage}=10`

Therefore, markup is 10% of cost.