Question

If an article costs a store $17.45 and if it sells the article for $22.95, what percentage markup is it using?

Answer 1

31.5%

Explanation:

$22.95 - $17.45 = $5.50

`(5.5)/(17.45)` × 100 = 31.5%

Answer 2

1.) Sales Price - Original Cost / Sales Price * 100 = Percentage Markup
2.) Now substitute the values:
Sales Price - Original Cost / Sales Price * 100 = Percentage Markup
$22.95 - $17.45 / $22.95 * 100 = Percentage Markup
$5.5 / 22.95 * 100 = Percentage Markup
. .2397 * 100 = 23.97%
3.) Therefore, the store uses 23.97% as Percentage Markup