A discount store buys a shipment of designer rugs at a cost of $980 each. The designer rugs will be sold for $1,959 apiece. What is the mark-up, as a percentage?
Round your answer to the nearest percent and include a percent sign (%).
The mark-up is equal to the selling price minus the cost price: $1,959 - $980 = $979.
To find the mark-up as a percentage, divide the mark-up by the cost price and multiply by 100: ($979 / $980) * 100 = 99.89%.
Rounded to the nearest percent, the mark-up is 100%.
Hector bought a funnel for $0.36 that was originally priced at $0.44. What is the discount, as a percentage?
Round your answer to the nearest percent and include a percent sign (%).
The discount is equal to the original price minus the sale price: $0.44 - $0.36 = $0.08.
To find the discount as a percentage, divide the discount by the original price and multiply by 100: ($0.08 / $0.44) * 100 = 18.18%.
Rounded to the nearest percent, the discount is 18%.
To find the mark-up percentage, we need to calculate the difference between the selling price and the cost price, and then express that difference as a percentage of the cost price.
The difference between the selling price and the cost price of each designer rug is given by:
Selling price - Cost price = $1,959 - $980 = $979
To express this difference as a percentage of the cost price, we divide the difference by the cost price and then multiply by 100:
Mark-up percentage = (Difference / Cost price) * 100
= ($979 / $980) * 100
= 99.8979591837...
Rounding this value to the nearest percent gives us 100%.
Therefore, the mark-up, as a percentage, is 100%.