a department store buys 500 shirts at the cost of $8,000 and sells them at a selling price of $20 each. find the percent markup

Question

Mathematics

Elena Barajas

4 September, 23:51

a department store buys 500 shirts at the cost of $8,000 and sells them at a selling price of $20 each. find the percent markup

+2

Answers (1)

Know the Answer?

Ivy Oneal · Answer 1

62.5%

Step-by-step explanation:

The store buys 500 shirts for $8,000.

The store bought each shirt for $8,000/250 = $32.

The markup on each shirt is $20. The percent markup is the percent that $20 is of $32. In other words, what percent is $20 out of $32?

To find what percent a part is of a whole, divide the part by the whole and multiply by 100.

percent markup = $20/$32 * 100 = 62.5%