a music store buys compactc discs for $12 each and sells them for $15 each. what is the percent of markup on these compact discs
3/12 = 0.25 = 25%
To find the percent markup on the compact discs, we need to determine the difference between the buying and selling prices, and then calculate it as a percentage of the buying price.
Markup = Selling Price - Buying Price
Markup = $15 - $12
Markup = $3
Percent Markup = (Markup / Buying Price) * 100
Percent Markup = ($3 / $12) * 100
Percent Markup = 25%
Therefore, the percent markup on these compact discs is 25%.
To find the percent markup, we need to determine the difference between the cost price (what the music store paid) and the selling price (what the music store sells them for), and then express that difference as a percentage of the cost price.
First, let's calculate the markup amount:
Markup = Selling Price - Cost Price
From the given information:
Cost Price = $12
Selling Price = $15
Markup = $15 - $12 = $3
To express this markup as a percentage of the cost price, we can use the following formula:
Percent Markup = (Markup / Cost Price) × 100
Plugging in the values:
Percent Markup = ($3 / $12) × 100
Simplifying the equation:
Percent Markup = 0.25 × 100
Thus, the percent markup on these compact discs is 25%.