Question

Wyatt bought a pair of shoes for $80. The next week, he noticed that the price for the same pair of shoes was now $115. Find the markup rate.

Answer 1

43.75%

Step-by-step explanation

We want to find the markup rate for the pair of shoes.

To do this, we have to find the difference between the different prices for the two weeks and then divide by the former price and multiply by 100 (per cent).

The difference in the two prices is:

115 - 80 = $35

Therefore, the mark up rate is:

`\begin{gathered} (35)/(80)\cdot100 \\ =\text{ 43.75\%} \end{gathered}`

That is the mark up rate.