A storeowner buys a case of 144 pens for $28.80. Tax and shipping cost an additional $8.64. He sells the pens for $.59 each. What is the markup per pen? What is the percent of markup?

Question

mertsj · Answer

How much does he have invested in each pen including the tax and shipping?

anonymous · Answer

28.80 + 8.64= 37.44

mertsj · Answer

That is for all 144 pens.  How much for each pen?

anonymous · Answer

He is selling each for .59 each

mertsj · Answer

How much did he pay for each pen?

anonymous · Answer

Im not sure what to do

mertsj · Answer

Divide the total cost by the number of pens.

anonymous · Answer

.26

anonymous · Answer

so he paid .26 for each pen which is a .33 markup

mertsj · Answer

And the percent markup is the markup over the original price multiplied by 100

anonymous · Answer

so 55.9% or round to 56% ?

mertsj · Answer

.33/.26=33/26=1.27=127% markup You know he more than doubled the price so the markup has to be more than 100 % of what he paid.

anonymous · Answer

OK I see thank you