A store buys an item for $28 and sells it for $35. What is the percent markup?
Answer:
The correct answer is 25 %.
Step-by-step explanation:
The markup is the percentage that reflects the difference between the price at which a product is sold and the price at which it was purchased.
The way to calculate this percentage is as follows:
(Cost with which the product is sold - unit cost) / unit cost x 100
Therefore we should do the following calculation:
\(\frac{35-28}{28} x 100 =\)
\(\frac{7}{28} x 100 =\)
\(0,25 x 100 =\\25\)
In this way we verify that the correct answer is 25%.