Maria sold bumper stickers to raise money for a public library.
She paid $\$2.25$ to make each bumper sticker and then sold each bumper sticker at a marked-up price to make a profit.
She sold all $80$ bumper stickers that she had made.
She made a total profit of $\$400$ .
What is the approximate percent Maria marked up the cost of each bumper sticker to make her total profit? Show your work.
Let's denote the marked-up price Maria sold each bumper sticker as $p$.
Maria paid $2.25 to make each bumper sticker, so her cost for all 80 bumper stickers was $80 \times 2.25 = \$180$.
Her total profit was $400, so her total revenue from selling all 80 bumper stickers was $180 + 400 = \$580$.
Since she sold all the bumper stickers at the marked-up price $p$, her total revenue is also equal to $80 \times p$. Therefore, we have $80p = 580$, which means $p = \frac{580}{80} = \$7.25$.
The markup percentage is calculated as the percentage of profit to the cost price, then multiplied by 100%.
Markup percentage $= \left( \frac{(\text{Marked up price} - \text{Cost price})}{\text{Cost price}} \right) \times 100\%$
So the markup percentage $= \left( \frac{7.25-2.25}{2.25} \right) \times 100\% = \left( \frac{5}{2.25} \right) \times 100\% \approx 222.22\%$.
Therefore, Maria marked up the cost of each bumper sticker by approximately 222.22% to make her total profit.
Maria sold bumper stickers to raise money for a public library.
She paid $\$2.25$ to make each bumper sticker and then sold each bumper sticker at a marked-up price to make a profit.
She sold all $80$ bumper stickers that she had made.
She made a total profit of $\$400$ .
What is the approximate percent Maria marked up the cost of each bumper sticker to make her total profit?