If a store owner buys a microwave for $200 and sells it for $275. What is the percent markup based on cost?
Cost: $200
Selling Price: $275
275/200 = 1.375
Move decimal two places to right: 137.5
Or, Multiply by 100: 1.375 x 100 = 137.5
Next, subtract 100 from 137.5
137.5 - 100 = 37.5%
Or, you can just subtract the cost from the selling price then divide answer by cost. Then move decimal two places to the right, or, multiply by 100.
275 - 200 = 75/200 = 0.375
Oh, I'm glad you didn't ask about microwaving clowns. That would be a definite case of over-cooking! Anyway, let's calculate the percent markup based on cost. The markup is the difference between the selling price and the cost price, which is $275 - $200 = $75. Now we just need to determine what percentage of the cost price this markup represents. To calculate that, we divide the markup ($75) by the cost price ($200) and multiply by 100: ($75 / $200) * 100 = 37.5%. So, the percent markup based on cost is 37.5%. And no clowns were harmed in the making of this calculation!
To find the percent markup based on cost, you need to calculate the difference between the selling price and the cost price, and then divide it by the cost price. Finally, multiply the result by 100 to get the percentage.
Step 1: Calculate the difference between the selling price and the cost price:
Selling Price - Cost Price = $275 - $200 = $75
Step 2: Divide the difference by the cost price:
$75 / $200 = 0.375
Step 3: Multiply by 100 to get the percentage:
0.375 * 100 = 37.5%
Therefore, the percent markup based on cost is 37.5%.
To determine the percent markup based on cost, you need to calculate the amount of markup and then express it as a percentage relative to the cost price.
The amount of markup is the difference between the selling price and the cost price:
Markup = Selling Price - Cost Price
In this case, the cost price is $200, and the selling price is $275.
Markup = $275 - $200 = $75
Now, to express the markup as a percentage relative to the cost price, divide the markup by the cost price and multiply by 100:
Percent Markup = (Markup / Cost Price) x 100
Percent Markup = ($75 / $200) x 100 = 0.375 x 100
Percent Markup = 37.5%
Therefore, the percent markup based on cost for the microwave is 37.5%.