Question

Gap sells jeans that cost $21.00 for a selling price of $29.95. The percent of markup based on cost is

Answer 1

$29.95 - $21.00 = $8.95

$8.95 : $21.00 ≈ 0.43

0.43 · 100% = 43%

Answer 2

If Gap sells jeans that cost $21.00 for selling price of $29.95. The percent of markup based on cost is approximately 43%. The markup in price is exactly $8.95.