Question

A department store buys 100 shirts at a cost of $ 1,200 and sells them at a selling price of $ 20 each. Find the percent markup.

Answer 1

Percentage mark-up = S. P - C.P /C.P x100%

From the question given,

C.P = $1200

S.P = 20 x 100 = $2000

$\text{percentage mark-up=}\frac{2000-1200}{1200}\times100percent$

=800 /1200 x100%

= 66.67 %