A store marked up the cost of a dress from $47.26 to $108.70.
What is the percent markup for this a dress? Round answer to nearest 10th.
(108.7 - 47.26) / 47.26 = ?
Multiply the answer by 100 to get the percent.
To find the percent markup for this dress, we need to calculate the difference between the selling price and the original cost, and then express it as a percentage of the original cost. Here are the steps to solve this:
Step 1: Calculate the difference between the selling price and the original cost:
Selling price = $108.70
Original cost = $47.26
Markup = Selling price - Original cost
Markup = $108.70 - $47.26
Markup = $61.44
Step 2: Calculate the percentage markup:
Percentage Markup = (Markup / Original cost) * 100%
Percentage Markup = ($61.44 / $47.26) * 100%
Percentage Markup ≈ 129.98%
Rounding this to the nearest tenth, the percent markup for the dress is approximately 130.0%.