Question

He paid $5.83 to make each shirt and sold each shirt at a marked-up price.
He sold all 200 shirts that he made.
He made a total profit of $1,834.
What is the approximate percent Marquise marked up the cost for each shirt to make his total profit? Show your work.

Answer 1

we know he made a profit of 1834 for 200 shirts, let's divide those to see how much profit per shirt

$\cfrac{1834}{200}\implies \cfrac{917}{100}\implies 9.17$

so he made a profit of 9.17 per shirt, now profit is surplus value, value beyond the cost, we know its cost was 5.83 per shirt, so if we take 5.83 to be 100%, how much is 9.17 off of it in percentage?

$\begin{array}{ccll} amount&\%\\ \cline{1-2} 5.83&100\\ 9.17&x \end{array}\implies \cfrac{5.83}{9.17}=\cfrac{100}{x}\implies 5.83x=917 \\\\\\ x=\cfrac{917}{5.83}\implies x \approx 157.29$