Question

Gap sells jeans that cost $21.00 for a selling price of $29.95. The percent of markup based on cost is

Answer 1

% mark up = ( 29.95 - 21 ) / 21
= ....?

Answer 2

Yep, or round it off to 43% ( depend on your teacher's instruction)

Answer 3

Thank you I had so many different ways of figuring it out but wasn't absoultely sure.

Answer 4

Just keep in mind: % of cost = (mark up - cost ) / cost

Answer 5

ok thank you. One othere question that has me baffled is An Apple IPod sells for $299, which is marked up 40% of the selling price. The cost of the IPod is what?

Answer 6

Could you open the new post per question!
Don't forget to learn, take note from your previous post before moving on :)