Find the percent of markup. Round to the nearest whole percent.
Store's Cost: $136.50
Selling Price: $184.70
A. 48%
B. 26%
C. 14%
D. 35%
D. 35%
To find the percent of markup, you need to calculate the difference between the selling price and the cost, and then divide that difference by the cost. Finally, you multiply the result by 100 to express it as a percentage.
Here's how to calculate the percent of markup:
Step 1: Find the difference between the selling price and the cost:
Markup = Selling Price - Cost
Markup = $184.70 - $136.50
Markup = $48.20
Step 2: Divide the markup by the cost:
Percent Markup = (Markup / Cost) * 100
Percent Markup = ($48.20 / $136.50) * 100
Percent Markup ≈ 35.3763441
Step 3: Round the percent to the nearest whole number:
Nearest Whole Percent ≈ 35%
So, the percent of markup for this store is approximately 35%. Therefore, the correct answer is option D, 35%.
To find the percent of markup, you can use the formula:
Percent of Markup = ((Selling Price - Store's Cost) / Store's Cost) * 100
Let's calculate it step by step:
1. Selling Price - Store's Cost:
184.70 - 136.50 = 48.20
2. Divide the difference by the Store's Cost:
48.20 / 136.50 = 0.3532
3. Multiply by 100 to get the percent:
0.3532 * 100 = 35.32
Rounded to the nearest whole percent, the percent of markup is approximately 35%.
So the correct answer is D. 35%