Question

A department store buys 200 shirts at a cost of $5,400 and sells them at a selling

Answer 1

Answer:

11.11%

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Answer 2

Number of shirts a department store bought = 200

Cost price of 200 shirts = $5400

Cost price of 1 shirt :

$=\tt \frac{5400}{200}$

$\color{plum} =\tt \ 27$

Thus, the cost price of one shirt = $27

Price at which the department store sold each shirt = $30

Which means :

▪︎Cost price of shirt = $27

▪︎Selling price of shrit = $30

Since selling price is greater than cost price, there was a markup in the price of the shirts.

We know that :

$\color{hotpink}\tt \: markup \: percentage = \color{plum} \frac{selling \: price - cost \: price}{cost \: price } \times 100$

Markup percentage in the price of the shirts :

$= \tt \frac{30 - 27}{27} \times 100$

$= \tt \frac{3}{27} \times 100$

$= \tt \frac{3 \times 100}{27}$

$= \tt \frac{300}{27}$

$\color{plum} = \tt11.1 \%$

Thus, the percentage of markup = $\tt 11.1 \%$

Therefore, the percentage of markup in the shirt's price = $\color{hotpink} \tt11.1 \%$