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A specialty shop procures several crystal vases for apiece and offers them to customers for each. What is the mark-up, as a percentage?Write your answer using a percent sign (%)._____
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Q. A specialty shop procures several crystal vases for apiece and offers them to customers for each. What is the mark-up, as a percentage?Write your answer using a percent sign (%)._____
- Calculate Price Difference: Cost price per vase: \$\(40\)\(\newline\)Selling price per vase: \$\(116\)\(\newline\)First, find the difference in price.\(\newline\)Difference = Selling price - Cost price\(\newline\)Difference = \$\(116\) - \$\(40\)
- Calculate Mark-up Percentage: Difference = \(\$76\)\(\newline\)Now, calculate the mark-up percentage.\(\newline\)Mark-up percentage = \(\text{Difference} / \text{Cost price}\) * \(100\)\(\newline\)Mark-up percentage = \(\(\$76\) / \(\$40\)\) * \(100\)
- Calculate Mark-up Percentage: Difference = \(\$76\)\(\newline\)Now, calculate the mark-up percentage.\(\newline\)Mark-up percentage = \((\text{Difference} / \text{Cost price}) \times 100\)\(\newline\)Mark-up percentage = \((\$76 / \$40) \times 100\) Mark-up percentage = \(1.9 \times 100\)\(\newline\)Mark-up percentage = \(190\%\)
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