Question

A store owner bought a painting for $120. She is selling it for $190. What is the percent markup on the painting

Answer 1

Answer:

The markup percent on the painting is 58.3%

Step-by-step explanation:

Here, The Cost price of the painting = $120

The selling price of the painting = $190

Hence, the total profit on the painting = Cost Price - Selling price

or Profit =  $190  - $120 = $70

Now, Markup % =  (Gross Profit / cost)  x 100

⇒Markup % = $\frac{70}{120} \times 100 = 58.3$

Hence, the markup percent on the painting is 58.3%