Question

The manager of a store orders model railroad sets that cost $390 and sells them for $429. What is the mark-up, as a percentage?

Answer 1

Answer:

10%

Step-by-step explanation:

We have been given that the manager of a store orders model railroad sets that cost $390 and sells them for $429.  

We will use markup % formula for our given problem.

$\text{Markup percentage}=\frac{\text{Selling price- Cost}}{\text{Cost}}\times 100$

$\text{Markup percentage}=\frac{429-390}{390}\times 100$

$\text{Markup percentage}=\frac{39}{390}\times 100$

$\text{Markup percentage}=\frac{1}{10}\times 100$

$\text{Markup percentage}=10$

Therefore, markup is 10% of cost.