Jackson, an accountant, observes that his company purchased chests of drawers at a cost of $26 and is currently selling them at a price of $52. What is the mark-up, as a percentage?
Write your answer using a percent sign (%).
The mark-up is the difference between the selling price and the cost price.
Mark-up = Selling Price - Cost Price = $52 - $26 = $26
To find the mark-up percentage, we divide the mark-up by the cost price and multiply by 100.
Mark-up percentage = (Mark-up / Cost Price) x 100 = ($26 / $26) x 100 = 100%
Therefore, the mark-up is 100%.