Given:
[tex]\begin{gathered} C_{\text{ost price}}=70 \\ S_{\text{elling price}}=84 \end{gathered}[/tex]To Determine: The percentage markup
The percentage is calculated by the formula below
[tex]P_{\text{ercent mark up}}=\frac{S_{elling\text{ price}}-C_{ost\text{ price}}}{C_{ost\text{ price}}}\times100\%[/tex]Substitute the given into the formula
[tex]\begin{gathered} P_{\text{ercent mark up}}=\frac{84-70}{70}\times100\% \\ P_{\text{ercent mark up}}=\frac{14}{70}\times100\% \\ P_{\text{ercent mark up}}=\frac{1}{5}\times100\% \\ P_{\text{ercent mark up}}=20\% \end{gathered}[/tex]Hence, the percent of mark up is 20%
