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?

Question

Mathematics

Taylor Ferrell

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)

Know the Answer?

Braiden Wallace · Answer 1

Braiden Wallace 10 September, 05:38

0

The percent markup is $27

Ball · Answer 2

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