Question

It costs Charlie's Car Repair Shop $27 to change the oil. The shop charges their costumers $40 for an oil change. What is the percent of markup in the cost of an oil change?

Answer 1

Cost Price for oil change =$27
Charge for the customers =$40
Markup cost = Difference between selling price and cost price =$40-$27=$13
To find the percent of markup, divide the markup cost by the cost price and multiply it by 100.
Markup percent = (13/27)*100
=48.15%