Question

Work the following problem. Choose the correct answer. If an article costs a store $17.45 and if it sells the article for $22.95, what percentage markup is it using?
%

Answer 1

(22.95−17.45)÷17.45)*100=31.52%

Answer 2

Answer:

The market price in percentage of the the article is 31.5%.

Step-by-step explanation:

Given : If an article costs a store $17.45 and if it sells the article for $22.95.

To find : What percentage markup is it using?

Solution :

The cost price of the article is CP=$17.45

The selling price of the article is SP=$22.95

Market price formula is

$MP=\frac{SP-CP}{CP}$

$MP=\frac{22.95-17.45}{17.45}$

$MP=\frac{5.5}{17.45}$

$MP=0.315$

The market price of the article is $0.315.

MP into percentage,

$MP\%=MP\times 100\\MP\%=0.315\times 100\\MP\%=31.5\%$

Therefore, The market price in percentage of the the article is 31.5%.