Question

Julia owns a clothing shop and went to a merchant's fair where she was able to buy 6 leather belts for $130. She then sells them in her store for $28 each. While doing her finances she decides to calculate the percent mark up on the belts. To do so, she multiplies 28 and 6, subtracts 130 and divides by 6. Is this correct? A) Yes. B) No; you should divide 130 by 6 subtract 28 and divide by -6. C) No; you should multiply 28 and 6, subtract 30, and divide by 6. D) No; she should multiply 28 and 6, subtract 130 and divide by 130. E) No; you should divide 130 by 28, subtract 6 and then multiply by -12.

Answer 1

We know that Julia owns a clothing shop and went to a merchant's fair where she was able to buy 6 leather belts for $130. She then sells them in her store for $28 each. While doing her finances she decides to calculate the percent mark up on the belts. To do so, she multiplies 28 and 6, subtracts 130 and divides by 6. 

Answer = Correct solution I believe

Answer 2

Answer:

Option D

Step-by-step explanation:

Julia paid 130$ to buy 6 leather belts.

Thus, cost of 6 leather belts =  130$

Thus, cost price of 6 leather belts = 130$

Now, Julia sold those lather belts for 28$ each

So, selling price of 6 leather belts  = 28 × 6 $

Mark up can be defined as the difference between the cost price and the selling price.

Mark up percent can be calculated with the help of following formula:

$\frac{\text{Mark up }}{\text{Cogs}}\times100\%$

where, Mark up is difference of selling price and cost price and COGS is the cost price.

Thus, to calculate markup percentage, she should subtract 130 from 28 and 6 multiplied divided by 130 that is $\frac{(28\times6) - 130}{130}$

So, D) is the correct option.