A store employee notices that gymnastics mats that cost her store $270 are being sold for $702. What percentage is the mark-up?
Write your answer using a percent sign (%).
The mark-up can be calculated by subtracting the cost from the selling price and then dividing by the cost:
Mark-up = (Selling Price - Cost) / Cost * 100%
Mark-up = ($702 - $270) / $270 * 100%
Mark-up = $432 / $270 * 100%
Mark-up ≈ 1.6 * 100%
Mark-up ≈ 160%
Therefore, the mark-up is 160%.