Question

The wholesale cost of materials is $1.87 if she sells the pair of mittens for $8.00 what is the percent markup?

Answer 1

327.81 percent markup

Explanation:

1. Get the profit by subtracting $8.00 from $1.87

2. 1.87 - 8.00 = -6.13

3. Then divide the profit (-6.13) by the cost of material (1.87)

4. -6.13 / 1.87 = -3.2780748663

5. Because this is a percentage multiple by 100

6. -3.2780748663 * 100 = 327.807486631

7. Round to the hundreths place

8. 327.81 percent