Question

The store bought a pair of shoes for $50, and sold it for $80. What percentage was the markup?

Answer 1

Answer:

The correct answer is 60%.

Step-by-step explanation:

We know that the store had a profit of $ 30 for the pair of shoes sold.

Now we must transform that $ 30 into a percentage.

And one of the ways in which we can calculate this percentage is with the following percentage formula:

$P= \frac{B}{A} . 100%$

P is the percentage we want to calculate.

The number B is the profit we have obtained, 30

And number A is the total of the product, 50

Thus:

$P= \frac{30}{50} . 100%$

$P= 0,6 . 100 %$

P= 60 %

Given this information, we can say that the percentage markup is 60%.