Find the percent of markup.
Wholesale price: $34
Selling price: $42.50
(42.5 - 34) / 34 = ?
Change the decimal answer to a percent.
Find each percent of markup.
(a) The wholesale price is $34.
The retail price is $42.50.
20
To find the percent of markup, you need to calculate the difference between the selling price and the wholesale price, and then divide it by the wholesale price. Finally, multiply the result by 100 to get the percentage.
Step 1: Calculate the difference between the selling price and the wholesale price:
Markup = Selling price - Wholesale price
Markup = $42.50 - $34
Markup = $8.50
Step 2: Divide the markup by the wholesale price:
Percent Markup = (Markup / Wholesale price) * 100
Percent Markup = ($8.50 / $34) * 100
Percent Markup ≈ 25.00%
Therefore, the percent of markup for this item is approximately 25.00%.