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A discount store buys a shipment of silver necklaces at a cost of $20\$20 each. The silver necklaces will be sold for $36\$36 apiece. What is the mark-up percentage?\newlineWrite your answer using a percent sign (%).\newline_____

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Q. A discount store buys a shipment of silver necklaces at a cost of $20\$20 each. The silver necklaces will be sold for $36\$36 apiece. What is the mark-up percentage?\newlineWrite your answer using a percent sign (%).\newline_____
  1. Calculate Mark-up Amount: Calculate the mark-up amount.\newlineMark-up = Selling price - Cost price\newline= $36\$36 - $20\$20\newline= $16\$16
  2. Calculate Mark-up Percentage: Calculate the mark-up percentage.\newlineMark-up Percentage = (Mark-up/Cost price)×100%(\text{Mark-up} / \text{Cost price}) \times 100\%\newline= ($16/$20)×100%(\$16 / \$20) \times 100\%\newline= 00.88 \times 100100\%\newline= 8080\%

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