1. I just bought a kite at the department store for $5.95. The owner of the store bought it from a wholesaler for $3.10. Which price is retail price?
Answer: The $5.95 is retail price because that's what I paid for it at the store
2. What percentage of the retail price is the wholesale price in #1?
3.10 / 5.95 = 0.52100 = 52.1%
3. If the sandals cost $58.00 wholesale and $105.00 retail, what is the markup in dollars?
markup = 105 - 58 = $47
4.The markup in #3 is what percent of the retail?
47/105 = 0.44761904761904764 = 44.8%
5.What percent of the wholesale in #3 is the markup?
47/58 = 0.8103 = 81.0%
6. A dozen eggs are purchased from the farmer at $1.05 per dozen. They are then sold to the consumer for $1.45. What percent of the retail is the markup.
(145-105)/145 = 0.2758620 = 27.6%
