A gas station purchases gasoline from a refinery at the unit price of $3.25 per gallon and sells it to their customers at $3.64 per gallon.
What is the percent markup?
3.64 -3.25 divide by 3.25
I bought gas for 3.50 sold it for 3.99 what is my percentage of markup
To find the percent markup, we first need to calculate the profit made by the gas station per gallon of gasoline.
The profit per gallon can be calculated by subtracting the cost per gallon from the selling price per gallon.
Profit per gallon = Selling price per gallon - Cost per gallon
Profit per gallon = $3.64 - $3.25 = $0.39
Next, we need to find the percent markup. The percent markup can be calculated by dividing the profit per gallon by the cost per gallon and multiplying by 100.
Percent Markup = (Profit per gallon / Cost per gallon) * 100
Percent Markup = ($0.39 / $3.25) * 100 ≈ 12%
Therefore, the gas station has a percent markup of approximately 12%.
A gas station purchases gasoline from a refinery at the unit price of $3.25 per gallon and sells it to their customers at $3.64 per gallon.
What is the percent markup?