A store purchased leather couches for $2,600 and sold them for $6,551. What percentage is the mark-up?
Round your answer to the nearest percent and include a percent sign (%).
The mark-up can be calculated as follows:
Mark-up = (Selling Price - Cost Price) / Cost Price
Mark-up = (6551 - 2600) / 2600 = 3951 / 2600 ≈ 1.519
Converting this to a percentage, we get:
Mark-up percentage = 1.519 * 100% = 151.9%
Rounding this to the nearest percent, the mark-up percentage is approximately 152%.