Question

Work the following problem. Choose the correct answer. 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

(22.95−17.45)÷17.45)*100=31.52%

Answer 2

The market price in percentage of the the article is 31.5%.

Explanation:

Given : If an article costs a store $17.45 and if it sells the article for $22.95.

To find : What percentage markup is it using?

Solution :

The cost price of the article is CP=$17.45

The selling price of the article is SP=$22.95

Market price formula is

`MP=(SP-CP)/(CP)`

`MP=(22.95-17.45)/(17.45)`

`MP=(5.5)/(17.45)`

`MP=0.315`

The market price of the article is $0.315.

MP into percentage,

`MP\%=MP* 100\\MP\%=0.315* 100\\MP\%=31.5\%`

Therefore, The market price in percentage of the the article is 31.5%.