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.
Respond in the space provided.
To find the percent markup Maria applied to each bumper sticker, we first need to calculate the total cost of making all 80 bumper stickers. Since she paid $2.25 to make each bumper sticker and she made 80, the total cost would be 2.25 * 80 = $180.
Next, we need to find the total revenue she generated from selling all 80 bumper stickers. Since she made a profit of $400 and sold all 80 bumper stickers, the total revenue would be the total cost + profit = $180 + $400 = $580.
Now, we can calculate the price at which she sold each bumper sticker. $580 (total revenue) / 80 (number of bumper stickers) = $7.25.
To find the percent markup, we need to calculate the difference between the selling price and the cost, and then divide that by the cost. Markup = ($7.25 - $2.25) / $2.25 * 100% = 222.22%
Therefore, Maria marked up the cost of each bumper sticker by approximately 222.22% to make her total profit of $400.