Question

A watch was purchased for $25. The wholesale cost was $16. What percentage was the markup?

Answer 1

If you would like to know what percentage was the markup, you can calculate this using the following steps:

x% of $16 is $25
x% * 16 = 25
x/100 * 16 = 25
x = 25 * 100 / 16
x = 156.25%

156.25% - 100% = 56.25%

The correct result would be 56.25%.