The manager of a store orders model railroad sets that cost $28 and sells them for $56. What is the mark-up percentage?
Write your answer using a percent sign (%).
The mark-up is $28, which is the difference between the cost price and the selling price. To find the mark-up percentage, we need to calculate what percentage $28 is of the cost price and express it as a percentage.
Mark-up percentage = (mark-up / cost price) * 100%
Mark-up percentage = (28 / 28) * 100%
Mark-up percentage = 100%
Therefore, the mark-up percentage is 100%.