A department store buys 500 shirts at a cost of $4000 and sells them at a selling price of $10 each. Find the percent markup.
1 answer:
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Answer:
25%
Step-by-step explanation:
The markup is the difference between the selling price and the cost price.
markup = (500)($10) - $4000 = $1000
Then the percent markup of the cost price is ...
markup/(cost price) = $1000/$4000 × 100% = 25%
The percentage markup was 25%.
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