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10 September, 05:32

A clothing store put a sales price of $57 on a purse. Before the markup, the store paid $30 for the purse. What percent markup did the store put on the purse?

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Answers (2)
  1. 10 September, 05:38
    0
    The percent markup is $27
  2. 10 September, 05:58
    0
    Gross Profit Margin = Sales Price - Unit Cost = $57 - $30 = $27.

    Markup Percentage = Gross Profit Margin/Unit Cost = $27/$30 = 90%.

    90% markup

    Check

    Sales Price = Cost X Markup Percentage + Cost = $30 X 90% + $30 = $57
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