Question

The cost to a store for an MP3 player is $60. The selling price is $1.05. A classmate says that the markup is 175% because $105/$60=1.75 . Is your classmate correct?

Answer 1

MP3 player is $60
The selling price is $105

A classmate says that the markup is 175% because $105/$60=1.75 . Is your classmate correct?

No. IT's not correct

Original price $60
Selling price $105

$105 - $60 = $45

So

45/60 x 100 = 75%

Price is markup 75% from $60 to $105