LooLoo Clothing Emporium sells scarves for $29.58. If the cost per scarf is $9.53, what is the amount of the markup?
this seems like an easy problem but I just need the steps to guide me to get the answer. I appreciate it a lot!
From Google:
Markup is the amount added to the cost price of goods to cover overhead and profit.
still lost
To find the amount of markup at LooLoo Clothing Emporium, you need to subtract the cost per scarf from the selling price per scarf.
Step 1: Subtract the cost per scarf from the selling price per scarf:
$29.58 - $9.53 = $20.05
So, the amount of markup on each scarf at LooLoo Clothing Emporium is $20.05.