Question

A department store buys 100 shirts at a cost of $2,400 and sells them at a selling price of $30 each.

Answer 1

Answer:

percent markup = 25%

Step-by-step explanation:

buys 100 shirts = $2400

buys 1 shirt = $2400/ 100

= $24

sells 1 shirt = $30

percent markup:

=[ ( selling price - bought price) ÷ bought price ] × 100

= [ (30-24) ÷ 24 ] × 100

= [ 6 ÷ 24 ] × 100

= 0.25 × 100

= 25 %

Answer 2

Answer:

There is a 25% markup

Step-by-step explanation:

First find the original cost of each shirt

$2400/ 100 shirts

$24/ shirt

Mark up = ( new price - original price) / original price

               = ( 30-24) / 24

               = 6/24

               = 1/4

                = .25

                 25%

There is a 25% markup