Mike bought an old music album at a yard sale for $9. He sold it online for $15.30. What is the percentage of the markup?
A
55%
B
60%
C
70%
D
85%
To find the percentage of markup, we need to calculate the difference between the selling price and the cost price, and then divide that by the cost price.
Markup = Selling Price - Cost Price = $15.30 - $9 = $6.30
Percentage Markup = Markup / Cost Price * 100% = $6.30 / $9 * 100%
Percentage Markup = 70%
Therefore, the correct answer is option C) 70%.