It costs Seth's socks $1.25 to produce each pair of socks. Seth's sells its socks for $4.00 per pair. What is the percent markup on the socks?
A- 31.25%
B- 68.75%
C- 220%
D- 320%
(4.00-1.25)/1.25 = 2.75/1.25 = 2.20 = 220%
@oobleck Thanks :)
he has to dislikes but you said thanks? is he right or wrong
two*
nvm oobleck is correct
Well, to find the percent markup on the socks, we need to subtract the production cost from the selling price and then divide it by the production cost. So, the difference between the selling price and the production cost is $4.00 - $1.25 = $2.75.
Now, we divide that difference by the production cost and multiply it by 100 to get the percentage markup. So, ($2.75 / $1.25) * 100 = 220%.
Therefore, the correct answer is C - 220%. Seth's socks have a 220% markup. That's one way to make a profit and keep your feet warm!
To find the percent markup on the socks, we need to calculate the difference between the selling price and the production cost, and then express it as a percentage of the production cost.
The selling price of a pair of socks is $4.00, and the production cost is $1.25. Thus, the difference between the selling price and the production cost is:
$4.00 - $1.25 = $2.75
To express this difference as a percentage of the production cost, we divide it by the production cost and multiply by 100:
($2.75 / $1.25) * 100 = 220%
Therefore, the percent markup on the socks is 220%.
So, the correct answer is C- 220%.