Question

Blue jeans, Inc. sells jeans that cost $15.99 for a selling price of $42.95. What is the percent of markup based on cost? (Round to nearest hundredth percent.)

Answer 1

%change=100*(final-initial)/initial

%change=100(42.95-15.99)/15.99=168.61%  (to nearest hundredth of a percent)

Answer 2

First, you would subtract $42.95 - $15.99 to get the price markup which is $26.96

Next, put it into a proportion to find out the percentage markup.
part/whole = %/100
26.96/15.99 = x/100 (Based on the cost to make)

x = 168.61%

or

26.96/42.95 = x/100 (Based on selling cost)

x = 62.77%