Question

If an article costs a store $7.45 and if it sells the article for $9.95, what percentage (to the nearest tenth) markup is it using?

Answer 1

Markup Percentage is 33.56 %

Explanation:

Given: Cost of an article = $ 7.45

Selling price of the article = $ 9.95.

To find: Markup percentage or profit percentage

Clearly Selling price is greater we have profit in this case.

Profit amount = 9.95 - 7.45 = $ 2.50

Profit percentage =
`(2.50)/(7.45)*100=33.5570469799=33.56` %

Therefore, Markup Percentage is 33.56 %

Answer 2

subtract to find the difference:

9.95 - 7.45 = 2.50

divide 2.50 by cost price to get mark up percentage

2.50 / 7.45= 0.3355

= 33.6 percent to the nearest tenth