Question

Sports Authority marks up New Balance sneakers $30 and sells them for $109. Markup is on cost. What are the cost and percent markup?

Note: Round the "percent markup" to the nearest hundredth percent.
Sports Authority marks up New Balance sneakers $30 and sells them for $109. Markup is on cost. What are the cost and percent markup?

Note: Round the "percent markup" to the nearest hundredth percent.



Sports Authority marks up New Balance sneakers $30 and sells them for $109. Markup is on cost. What are the cost and percent markup?

Note: Round the "percent markup" to the nearest hundredth percent.



Sports Authority marks up New Balance sneakers $30 and sells them for $109. Markup is on cost. What are the cost and percent markup?

Note: Round the "percent markup" to the nearest hundredth percent.

Answer 1

Cost in this context refers to the cost of making the product. The sneakers were marked up 30, so you can find the original cost by subtracting the selling price (109) minus the markup (30).

To find the percent markup, calculate (marked up price - original manufacturing price) / (original price) * 100%